November 16, 2021

Indian Consumers More Concerned About Digital Payments Fraud Due to COVID-19 Compared To Last Year – New ACI Worldwide Study

MUMBAI–()–Consumers in India are increasingly concerned about digital payments fraud and are exercising greater caution when using digital payments compared to a year ago, according to a new study conducted by YouGov and ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions. While survey respondents perceived net banking to be the most secure method of payment, UPI and eWallet transactions scored higher than card payments — both for online and offline usage — suggesting increased trust in digital payment methods. 71 percent of consumers said they are more concerned about scams and fraud because of COVID-19, rising from 47 percent last year at the onset of the pandemic.

60 percent of respondents would first call their bank to block their account or visit the bank branch to file a written complaint in…

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