PhonePe Protect: Fintech Firm Rolls Out New Security Feature To Prevent Payments to Suspicious Numbers and Safeguard Users From Fraudulent Transactions

PhonePe has introduced a new security feature called “PhonePe Protect” for its users to stay safe from suspicious transactions and online fraud. The feature is part of a safety framework to identify and block payments made to potentially risky mobile numbers flagged by the Department of Telecommunications (DoT) through its Financial Fraud Risk Indicator (FRI). PhonePe, in a post on X (formerly Twitter) on November 3, said, “This new feature uses the DoT’s Financial Fraud Risk Indicator (FRI) to automatically block transactions to highly suspicious numbers and warn you of risks in real-time.”  PhonePe users will receive alerts when trying to send money to potentially suspicious numbers. “PhonePe Protect” will also provide insights into why certain transactions are blocked to understand the risks involved and stay secure during digital payments. Zerodha Daily Withdrawal Limits: CEO Nithin Kamath Responds to User’s ‘Zerodha Scam’ Remark, Explains INR 5 Crore Daily Limit for Withdrawing Funds.

PhonePe Protect Feature

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