CHENNAI The National Payments Corporation of India ( NPCI ) is piloting a 'federated model' in collaboration with banks to eliminate frauds using UPI transactions.
India's umbrella organisation for operating ret ai l payments and settlement systems is also leveraging AI and machine learning tools to detect suspicious transactions through UPI. NPCI chief risk officer Viswanath Krishnamurthy said that NPCI and banks can share only customer scores between the two agencies.In March, 18.3 billion transactions valued at Rs 24 lakh crore were processed through UPI. There was a 35% year-on-year growth in volume and 25% year-on-year growth in terms of value.
India's umbrella organisation for operating ret ai l payments and settlement systems is also leveraging AI and machine learning tools to detect suspicious transactions through UPI. NPCI chief risk officer Viswanath Krishnamurthy said that NPCI and banks can share only customer scores between the two agencies.In March, 18.3 billion transactions valued at Rs 24 lakh crore were processed through UPI. There was a 35% year-on-year growth in volume and 25% year-on-year growth in terms of value.
You may also like
Premier League offer VAR explanations after TWO disallowed goals in Chelsea vs Tottenham
MAFS Australia's Paul and Carina's turbulent relationship amid punching scandal
Coronation Street's Theo's true identity 'exposed' after Todd romance twist
Multiple people stabbed in Washington D.C as police shut down area near US Capitol
Michelle Keegan is a vision in £60 'jacket of the season' that's flying off shelves
