{"id":298768,"date":"2024-06-08T18:11:08","date_gmt":"2024-06-08T12:41:08","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=298768"},"modified":"2024-06-08T18:13:31","modified_gmt":"2024-06-08T12:43:31","slug":"digital-payments-intelligence-platform","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/digital-payments-intelligence-platform\/","title":{"rendered":"Digital Payments Intelligence Platform"},"content":{"rendered":"<p><strong>Source-<\/strong>This post on<strong> Digital Payments Intelligence Platform<\/strong> has been created based on the article <strong><a href=\"https:\/\/epaper.thehindu.com\/ccidist-ws\/th\/th_delhi\/issues\/85932\/OPS\/GFJCTB5NP.1+GHBCTBUO0.1.html\" target=\"_blank\" rel=\"noopener\">&#8220;Digital payments intelligence platform soon to curb fraud&#8221;<\/a><\/strong> published in\u00a0<strong>\u201cThe Hindu\u201d<\/strong>\u00a0on 7 June 2024.<\/p>\n<h2>Why in News?<\/h2>\n<p>With the <span style=\"color: #ff0000;\">rise in digital payment scams<\/span>, there is a <span style=\"color: #ff0000;\">growing need for a collective approach to prevent and manage these issues<\/span>. Considering the rise in digital payments, the Reserve Bank of India (RBI) plans to create a Digital Payments Intelligence Platform.<\/p>\n<h2>About Digital Payments Intelligence Platform<\/h2>\n<figure style=\"width: 361px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/epaper.thehindu.com\/ccidist-ws\/th\/th_delhi\/issues\/85932\/OPS\/Public\/GFJCTB5NP.1%2BGHBCTBV2M.1.jpg?resize=361%2C346&#038;ssl=1\" alt=\"Digital payments intelligence platform\" width=\"361\" height=\"346\" \/><figcaption class=\"wp-caption-text\">Source: The Hindu<\/figcaption><\/figure>\n<p><strong>1. Aim:<\/strong> It <span style=\"color: #ff0000;\">aims to gather intelligence<\/span> across the digital payments network and enable real-time data sharing.<\/p>\n<p><strong>2. Objective:<\/strong> RBI wants to <span style=\"color: #ff0000;\">expand the existing e-mandate system<\/span> as more people are using automated recurring payment.<\/p>\n<p>3. This system will now include payments that happen regularly but not at a fixed time, such as topping up Fastag balances for tolls or the <span style=\"color: #ff0000;\">National Common Mobility Card (NCMC)<\/span> used in public transport.<\/p>\n<p>4. This change would allow customers to set their <span style=\"color: #ff0000;\">Fastag <span style=\"color: #333333;\">and<\/span> NCMC<\/span> to automatically refill whenever the balance drops below a certain level they choose. This will make it easier and quicker to pay for travel and transportation.<\/p>\n<p>5. The RBI <span style=\"color: #ff0000;\">aims to boost the use of UPI Lite<\/span>, a service for fast, small payments directly from a device.<\/p>\n<p>6. They plan to <span style=\"color: #ff0000;\">integrate UPI Lite<\/span> into the e-mandate system to encourage more people to use this convenient payment method.<\/p>\n<p><strong>UPSC Syllabus: Indian Economy<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source-This post on Digital Payments Intelligence Platform has been created based on the article &#8220;Digital payments intelligence platform soon to curb fraud&#8221; published in\u00a0\u201cThe Hindu\u201d\u00a0on 7 June 2024. Why in News? With the rise in digital payment scams, there is a growing need for a collective approach to prevent and manage these issues. Considering the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/digital-payments-intelligence-platform\/\">Continue reading <span class=\"screen-reader-text\">Digital Payments Intelligence Platform<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127],"tags":[11872,10498],"class_list":["post-298768","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","tag-9pm-daily-factly","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/298768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=298768"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/298768\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=298768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=298768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=298768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}