ABSTRACTDIGITAL PAYMENTS: SECURED OR UNSECURED?Over the last few years, the Digital Payments concept clutched as a crucial concern in the financialsector. In simple terms,Digital Payments are payments that are carried on through the internet andmobile channels. Undoubtedly, Digital Payments are omnipresent at present as it has connected worldand has eased in payments and transactions. The ‘Digital India’ initiative, launched in 2015, hassubstantially boosted the country’s digital payment ecosystem.In India, its immense progress can beaccredited through technological advancements, Internet penetration, mobile phone uprise, digitalpayment adoption by consumers. Nevertheless, with more and more users preferring digital payments,the chances of getting exposed to cybersecurity risks such as online fraud, phishing, information theft,and malware or virus attacks are also increasing. Lack of awareness and poor digital paymentecosystem are some of the critical causes of the intensification of these attacks.
