A Comprehensive Study on Security Measures and Consumer Awareness with Special Reference to UPI in India

Abstract

The exponential surge of the Unified Payments Interface (UPI) in India has transformed digital transactions yet unveiled a realm of scams and frauds due to inadequate consumer education. The current body of literature comprehensively addresses the technological progress of UPI. This paper addresses critical lacunae in existing literature. Firstly, it illuminates the necessity of comprehensively exploring user security awareness amidst discussions of technological advancement. Secondly, it underscores the imperative of understanding user responses to financial malfeasance to fortify support systems. Lastly, it identifies a gap in integrating discussions on UPI's technological prowess with security measures. Through interdisciplinary inquiry, this research advocates for strategies to enhance consumer enlightenment, foster stakeholder collaboration, and iteratively refine UPI technologies. By encapsulating these insights, this study aims to not only deepen scholarly understanding but also catalyse practical measures toward fortifying the digital payment ecosystem against emerging threats.