PhonePe Protect feature: The prevalence of online scams has grown in tandem with the swift growth of online payments in India under the Digital India initiative. Every day, new instances of internet fraud are reported. The “PhonePe Protect” function is a special feature that PhonePe has made available to its users in an effort to stop these scams. Online payments made to numbers that the Indian government has flagged as fraudulent will be blocked by this program. This will keep your bank account from being depleted and stop accidental fraudulent transactions. Let us study this tool in its entirety.
fraudulent transactions will be prevented by PhonePe Protect.
Via its official X handle, PhonePe announced its new “PhonePe Protect” tool. Users will be warned about bogus numbers by this tool before they happen. This application automatically blocks transactions that are already on the fraud list by using the Financial Fraud Risk Indicator (FRI) provided by the Department of Telecommunications (DoT). Users will be safeguarded from fraud in real time by this PhonePe technology.
A ‘Very High Risk’ label will appear and the payment will be promptly canceled as soon as you send money to such a number. ‘Medium Risk’ numbers will also show a warning level, but you can still finish the payment if you choose to. The first company to include DoT’s unique functionality in its app is PhonePe.
Unexpected fraudulent transactions from unknown numbers are avoided thanks to the PhonePe Protect feature. You can use this unique PhonePe function if you are nervous about making payments online.