Mumbai: India is also included the safest When it comes to the countries of the world online transactionsdue to this reserve Bank of IndiaThe decision to tokenize each transaction, according to master card,
“India is the only country that tokenizes every online transaction, thereby reducing fraud and disputes. However, social engineering fraud – where customers are tricked into making payments or sharing credentials – still exist, and There is always a possibility that devices can be hacked,” he said. Gautam Agarwal, Country Head, Mastercard India.
Speaking to TOI, Aggarwal said that despite the emergence of faster payments networks, cards maintain an edge in security due to the high level of analytics run on transactions across the world. “Fraud analytics has become more advanced, distinguishing between authentic and fraudulent transactions,” Agarwal said.