Published On : Fri, Dec 23rd, 2016

MHA asks digital payment companies to beef up cyber security


New Delhi: The Home Ministry asks digital payment and e-commerce companies to beef up their cyber security in the wake of increased digital payments. The government’s demonetisation move, and the subsequent cash crunch, has led to a surge in digital payments.

According to the government data, the number of daily transactions through e-wallet services such as Oxigen, Paytm and MobiKwik has shot up from 17 lakh — recorded on November 8 when demonetisation was announced — to 63 lakh as on December 7 (a growth of 271%). In terms of value, the surge has been 267%, from Rs 52 crore daily to Rs 191 crore now.