Bhubaneswar, 29th July 2025 ( Pratyusha Bureau) : The National Payments Corporation of India (NPCI), the organisation driving innovation and powering India’s digital payment revolution has reiterated its commitment to enhancing consumer safety in digital payments by advocating the ‘Stop, Think, Act’ principle. As digital transactions continue to grow, NPCI urges users to remain vigilant and adopt best practices to safeguard themselves against fraud.Growing Adoption of UPI and the Need for Digital SafetyUnified Payments Interface (UPI) has become a key driver of digital transactions in India, accounting for 83% of total payment volume in CY-2024. In June 2025, UPI processed 18.40 billion transactions, reflecting a 32% year-on-year growth in volume and a 20% year-on-year growth increase in transaction value. Over the past five years, UPI adoption has soared at a CAGR of 74%, making it the largest retail payment system in transaction volume. Since its inception, UPI has onboarded over 460 million unique users, facilitating digital transactions across various segments. NPCI’s Multi-Layered Security FrameworkUPI stands out not only for its convenience but also for its robust security framework, which ensures the integrity of every transaction. NPCI employs advanced protocols and stringent safeguards such as device binding. The feature links a user’s account to a specific mobile device, ensuring that a third party cannot access it without the registered mobile device. Furthermore, UPI incorporates a two-factor authentication that requires users to verify their identity using their mobile number and the user’s UPI PIN before authorising any transaction. Viswanath Krishnamurthy, Chief Risk Office, NPCI, said “Social engineering is when fraudsters exploit human tendencies such as greed, fear, and ignorance to deceive users. They manipulate users into authorising transactions that appear legitimate but are intended to defraud them. However, it’s crucial to use digital payments safely and avoid online scams. Early identification of potential scams helps protect you and your loved ones, fostering a safer, less-cash economy for everyone,”Consumer Advisory: How to Stay Safe?While UPI is equipped with robust security features, fraudsters continue to exploit social engineering tactics. Consumers must remain cautious of scams.
