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Why both businesses and scammers love India's payment system
Fast and free, India's UPI payments system has been a big success, but has attracted scammers.
“While digital payments are convenient, they do come with vulnerabilities," says Shashank Shekhar, founder of the Delhi-based Future Crime Research Foundation. Mr Shekhar says that scammers use a variety of ways to trick people, including persuading them to share their UPI pin number, which is needed to authorise payments. However, earlier in the year the 22-year-old, who lives in Bihar state in northeastern India, spotted one for sale on Facebook that looked like a great deal.
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