Which organisation partnered with The Times of India (TOI) to launch a nationwide campaign on digital payment safety, in October 2024?

The correct answer is National Payments Corporation of India (NPCI).

Key Points

• NPCI partnered with The Times of India (TOI) in October 2024 to launch a nationwide campaign focused on promoting digital payment safety and awareness.
• This initiative aims to educate the public about safe digital payment practices and prevent frauds associated with online transactions.
• The campaign emphasizes the usage of secure payment methods such as UPI (Unified Payments Interface) and digital wallets, which are managed by NPCI.
• NPCI, a not-for-profit organization, is responsible for operating and managing retail payment systems in India, including UPI, RuPay, and IMPS.
• The collaboration marks a significant step toward increasing digital literacy and promoting financial security among users across India.

Additional Information

• National Payments Corporation of India (NPCI)
  • Established in 2008, NPCI is an umbrella organization for retail payments in India.
  • It operates key payment systems like UPI, IMPS, RuPay, Bharat Bill Payment System (BBPS), and more.
  • UPI (Unified Payments Interface), one of NPCI's flagship products, has revolutionized digital payments in India.
  • NPCI's mission is to empower every citizen with access to secure and seamless digital payment services.
• Digital Payment Safety Campaigns
  • These campaigns focus on creating awareness about cyber threats, phishing scams, and secure payment methods.
  • They encourage users to safeguard sensitive information like OTPs, PINs, and passwords.
  • Educational drives are conducted to promote practices such as checking URLs, using official apps, and avoiding unsolicited links.
• Unified Payments Interface (UPI)
  • Launched in 2016 by NPCI, UPI facilitates instant money transfers between bank accounts via a mobile platform.
  • It allows transactions using virtual payment addresses, QR codes, or mobile numbers without revealing account details.
  • UPI has gained immense popularity due to its ease of use, security features, and interoperability across banks and platforms.
• Importance of Digital Literacy
  • Digital literacy is essential in today's economy as it ensures individuals can safely navigate online financial systems.
  • Initiatives like NPCI's campaign contribute to reducing fraud and enhancing trust in digital payments.