Online shoppers in India are growing at 73% for Tier-I cities and this growth is staggering 400% for Tier-II and III cities, according to a report. The growth is the result of the rapid adoption of digital payments and internet availability in the country. However, this has also given rise to scams related to Covid 19 such as web-skimming, malware campaigns and phishing scams, the report read.
The report- Fraud & Risk Management in Digital Payments by the Data Security Council of India (DSCI) in partnership with PayPal discusses the online payment frauds, threats in the payment ecosystem, importance of incorporating better fraud prevention strategies, role of upcoming technologies, and recommendations for various stakeholders involved in the payment ecosystem.