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As Merchant Transactions Go Online, Payment Firms Grapple With Rising Fraud Risk
Peer-to-Merchant transactions nearly tripled over the past six months but the risk of fraud is also on the rise.
22 Dec 2020, 09:30 PM IST
As businesses go online, peer-to-merchant transactions are growing steadily for most digital payment companies in India. But the risk of fraud is also higher than payments made to peers, prompting firms to look for ways to weed out bogus merchants and pre-empt frauds.Payments via the unified payment interface have surged in 2020 amid the Covid-19 pandemic. While a large chunk of these payments is still peer-to-peer, the share of P2M ...
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