Digital Payment in India could soon feature a security fee to compensate for fraud

[Sushubh]

good shit.

Govt considers 'security fee' for every digital payment to curb cyber fraud

Nasscom Internet Council Head, Prasanto K. Roy, said that a fee on every digital transaction could start a fund that could be used to create better infrastructure to secure digital transactions.

“The fee can be like a cess which will help create a fund to develop good infrastructure, hire experts and secure online transactions, which is the need of the hour. Just like a Swachh Bharat Cess,” he told ThePrint.

Emails and calls to officials from the Department of Financial Services regarding the proposal received no response.

 

[Sushubh]

"Remember when you could pay your help’s or driver’s salary via Paytm or Mobikwik? Well, you can’t do that anymore. The Reserve Bank of India (RBI) worries that these kinds of transactions through a wallet could be a potential money laundering risk. So, wallets can now be used only to buy goods or services.
Also, remember, you could walk out of a cab even as fares as exact as Rs 183.37 were deducted automatically from a wallet? You can’t do that anymore either. The RBI believes that that kind of a transaction is not secure enough and wallets need to have a system for user consent.