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The value of securities brokers and dealer transactions via the unified payments interface (UPI) jumped 21.01% month-on-month to Rs 73,752.37 crore in July from Rs 60,945.24 crore in June.
Customers who lose up to Rs 50,000 in fraudulent transactions could be eligible to receive up to Rs 25,000, or 85% of the net loss, whichever is lower.
Alipay+ has close to 1.8 billion user accounts and are used by over 150 million merchants.
The overall value of the merchant category-wise purchases via UPI rose to Rs 8.07 lakh crore in December across 13,482.38 million transactions.
Online marketplaces witnessed 126.2 million transactions worth Rs 8,350 crore via UPI payments during the month as compared to 141.2 million transactions worth Rs 10,049.11 crore.
For digital payments at least one of the factors of authentication must be dynamically created that is unique to that transaction.
The funding round also saw participation from Kotak Securities and existing investors.
