Presentation on -Methods of Cashless payment including recent Govt initiatives e.g. UPI, APES, USSD, APES, eWallets - Comparison UPI Vs eWallets - Vulnerabilities of going Cashless - Safety Tips

1. From Cash to Cashless
Methods, Advantages & Safety Tips
Mudit Shukla,
Indian Oil Corp. Ltd
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2. Agenda
• Methods to go Cashless (with Demos)
• Vulnerabilities(with Case Studies)
• Safety Tips
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3. Methods of Cashless payment
• UPI
• eWallets
• USSD based Mobile Banking
• AEPS
• Bank Cards
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4. UPI: Unified Payment Interface
• Infrastructure provided by NPCI (National
payment Corporation of India)
• Banks have made their mobile apps based on
UPI
• Enables cashless payment
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5. *Data in slides 6-13 from Niti Ayog website
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6. *Demo on how to use UPI on your mobile
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7. © Indian Oil Corp. Ltd, Mudit Shukla 7

8. Demo eWallet
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9. USSD
• Unstructured Supplementary Service Data
based Mobile Banking
• Can be used on non-smart phones without
Internet
• *99# - National Unified USSD Platform (NUUP)
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12. AEPS
• Aadhar enabled payment system
• AEPS allows bank-to-bank transaction at PoS (MicroATM) with
the help of BC
• Only Aadhar needed, Bank A/c to be seeded with Adhar
• Aadhar enabled Services
• Balance Enquiry
• Cash Withdrawal
• Cash Deposit
• Aadhaar to Aadhaar Funds Transfer
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14. Types of Cards
• Pre-paid Cards
• Pre-loaded from your bank account
• Safe to use, limited amount of transaction
• Can be recharged like mobile recharge
• Debit Card
• Linked to your bank account
• Used to pay at shops, ATMs, wallets, microATMs, online shopping
• Credit Card
• Not necessarily linked to your bank account
• Come with a maximum monthly cap on usage
• Usage similar to Debit Card
• Monthly payment cycle
• Advantage in case of fraud.
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15. Advantages of UPI over Wallet
• Lowest transaction charge 0.50paise per transaction. *
• Removes necessity of transacting with your card/ storing card
details in the app
• Instant Money transfer directly to Bank Account
• 365 days, 24x7 availability on IMPS platform
• One UPI App many Bank accounts
• Instant registration of payee – no wait time
• eWallet – need to recharge the wallet also you loose the
interest
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16. Vulnerabilities of Cashless Payment
• Password Threats (can be easily hacked if lesser comples)
• Risk of Being Hacked over network/ Bank data
leak (32 lakhs bank card details hacked)
• Additional Cost (transaction charges, internet charges, credit
card service charges etc)
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17. Case Studies
• BBC Case study on Cloning Credit Card
• How Credit/ Debit Card information is sold
online (The How to Guide)
• How to spot a credit card skimmer
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18. Banking Safety Tips
• Register your mobile number at bank for regular information by SMS for
every transaction
• Never share your PIN to anyone
• Transact at only trusted merchants
• While at ATM, ensure no one is looking over your shoulders, check for card
skimming device
• Change your internet banking password, ATM pin etc regularly
• Always keep long difficult passwords
• Never transact on Public or Open Wifi internet e.g. Airports, Hotels
• Never save your Credit/ Debit Card details on websites, wallets, eCommer
portals
• Always logout from websites, app where you have made online payment
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19. Mobile Phone Safety Tips
• Note down your Mobile IMEI code: *#06#
and SIM card no.
• Install these 2 apps:
• Locate my mobile
• Erase the data
• In case of theft
• Erase the data using app & trace the last location
• Immediately lodge an FIR with IMEI & SIM No
• Get the SIM Blocked
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20. Thank you
.
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