Managing potential issues associated with UPI operations is vital for secure digital payments.
Meaning
Definition
UPI Risk Management identifies, assesses, and controls threats within the Unified Payments Interface ecosystem.Key Risks Identified
Major risks include transaction fraud (phishing), technical glitches causing failed UPI Transactions, and data security breaches.Mitigation Strategies
Strategies involve strong authentication (PINs), real-time monitoring, user awareness (not sharing UPI ID/PIN), and effective UPI complaint resolution.Author
