Tag: Online payment

How PayPal is using AI to combat fraud, and make it easier to pay
29Aug By adminNo Comments
Technology

How PayPal is using AI to combat fraud, and make it easier to pay

[ad_1] Artificial intelligence has been the buzzword of 2023 ever since ChatGPT made its public debut earlier this year, with businesses, schools, universities and even non-profits looking for ways to integrate AI in their operations.John Kim, chief product officer for PayPal, spoke with The Associated Press about how the company is using the early proliferation of artificial intelligence technologies in its business, as well as PayPal's future in payments when there's so much competition. The interview has been edited for length and clarity. Q: How have security issues changed since you've been in this role or similar roles? How much more complicated or sophisticated are threats or opportunities to protect customer data? A: One way you you can put it is that the fraud is a pretty big b...
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Gurugram: Company duped of ₹35 lakh after fraudsters tamper with payment gateway
2Apr By adminNo Comments
Technology

Gurugram: Company duped of ₹35 lakh after fraudsters tamper with payment gateway

[ad_1] Some unidentified fraudsters allegedly duped a company of ₹35 lakh by apparently tampering with its online payment gateway system, police said on Saturday.Ankit Rawat, the national head of operations at Parviom Technologies Pvt. Ltd., in his complaint said that his company uses the payment gateway services of Cashfree, which was breached resulting in 35 UPI transactions after getting unauthorised access to the systems through its dashboard. “Through the fraudulent transactions a total of around ₹35 lakh were transferred in the different bank accounts,” Rawat said in the complaint. He said that they are apprehending that the payment gateway has been breached and compromised, the source of which is not known to the company, police said.An FIR was registered against unknown people...
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No charge on UPI payments, it is ‘FREE’: NPCI
30Mar By adminNo Comments
Technology

No charge on UPI payments, it is ‘FREE’: NPCI

[ad_1] Do you make UPI transactions and are worried if you will have to pay charges for the same? There were several reports claiming that charges will be levied on UPI payments. However, the National Payments Corporation of India (NPCI) has now clarified that there will be no charges for the bank account to bank account-based UPI payments that are normal UPI payments. It further stated that the recently introduced interchange charges are only applicable for the prepaid payment instruments (PPI) transactions and there is no charge to customers.NCPI says UPI transactions will remain free of charge "UPI is free, fast, secure and seamless... Every month, over 8 billion transactions are processed free for customers and merchants using bank-accounts," NPCI tweeted. While in a release, it sta...
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Alert! RBI card tokenisation rule starts Oct 1; know how to do it on your debit, credit card
30Sep By adminNo Comments
Technology

Alert! RBI card tokenisation rule starts Oct 1; know how to do it on your debit, credit card

[ad_1] The RBI debit and credit card tokenisation rule will come into effect stating tomorrow, October 1. Here are the details you need to know. Your online transactions, like making payments for shopping, will be changing from tomorrow, October 1, 2022. While making online payments, you must have noticed that your debit card and credit card details get saved by many organisations. They retain card details like card number, expiration date, and more. Though saving these details makes your payment making process easier, it also raises the risk of card information being misused or stolen. In order to curb online fraud, the Reserve Bank of India (RBI) has asked all merchants and payment gateways to remove customer details of deb...
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Facing internet issues while sending money via UPI? Send it offline via UPI Lite
22Sep By adminNo Comments
Technology

Facing internet issues while sending money via UPI? Send it offline via UPI Lite

[ad_1] NPCI recently introduced the offline method of transferring money via UPI Lite. Know how you can use it. Do you often face internet issues while making payments via UPI? If yes, then NPCI has solved your problem allowing you to make online payments without even connecting to the internet. Since many of us depend on UPI and other online payment methods for most of the transactions, it sometimes becomes irritating when a transaction fails. One of the major reasons for transaction failure or slow transaction process is poor network connectivity. However, NPCI resolved this issue by introducing a new app UPI Lite to carry out the offline method of transferring money. Here's how you can use itHow to set up your offline UPI ...
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