July 31, 2019 8:07:28 pm
In a bid to make transactions more safer on its platform and identify suspicious transactions, Google Pay will now send SMS to its users along with app notification to clarify the flow of money in their linked bank accounts. So each time there is a collection request sent on the Google Pay app, the user will receive a notification and SMS that will clarify that on being approved the money will flow out of their bank account.
Google has said that this latest feature will help the users to easily identify any suspicious transactions and keep their money secure. The technology giant goes on to say that the instant bank-to-bank transactions through the UPI platform have risen over the past two years becoming the preferred form of payments for many users in India. There are many users who have adopted digital payments for the first time during this period.
“We are constantly adding features to help our users fully understand each step on the app. We have now launched notifications and SMS alerts to clarify the direction of flow of money and help them to transact securely.” Ambarish Kenghe, Director, Product Management, Google Pay said in a blog post.
Google Pay platform uses machine learning-based scam prevention models and explicitly displays ‘scam’ or ‘stranger’ warnings in case a user receives a payment request from someone suspicious or not in their contact list.
According to Google, the app comes with exhaustive risk relations check at the onboarding stage which prevents known bad elements from recreating their accounts on the platform.
The collection request is a unique feature on the UPI platform so it might be new and confusing for the first time users. Due to this, Google Pay displays and informs the user about what every single step would lead to.
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