rbi Governor Shaktikanta Dashas slammed the loss of an efficient criticism redressal mechanism for patrons amongst many cost gadget operators, underlining the will for the business to regard each fraud and grievance as a trigger for worry requiring detailed root-cause research.
“While there is wide appreciation of the Online Dispute Resolution (ODR) system conceived by RBI, how many payment system operators (PSOs) have actually enabled it? Should not the entities embrace such initiatives upfront and enhance customer satisfaction? Afterall, PSOs deal with public money,” he said in a speech at a PSO Conference in Kochi on Saturday.
Das cautioned that public trust in digital payments would be eroded without efficient resolution of disputes. “Availability and affordability of an expeditious grievance redressal mechanism is of utmost importance to ensure public trust in digital payments,” he added.
While the standard financial institution department type provides a bodily position the place shoppers can hotel grievances, Das mentioned the similar is probably not the case in virtual bills the place customers once in a while in finding it tricky to establish the proper discussion board for fixing such issues.
He prompt that PSOs may leverage era and move in for rule-based answer of grievances with 0 to minimum guide intervention.
Das praised PSOs for stepping up all through the pandemic, when the resilience of cost programs used to be seriously examined. However, he wired the will for endured innovation and adapting to converting cases.
Das mentioned RBI had taken quite a lot of steps to extend the safety of cost transactions in addition to the ecosystem. He cited the advent of the Additional Factor of Authentication for card-based e-commerce and on-line transactions, later prolonged to different cost modes and channels, as a good fortune tale in Indian cost programs.
“While there is wide appreciation of the Online Dispute Resolution (ODR) system conceived by RBI, how many payment system operators (PSOs) have actually enabled it? Should not the entities embrace such initiatives upfront and enhance customer satisfaction? Afterall, PSOs deal with public money,” he said in a speech at a PSO Conference in Kochi on Saturday.
Das cautioned that public trust in digital payments would be eroded without efficient resolution of disputes. “Availability and affordability of an expeditious grievance redressal mechanism is of utmost importance to ensure public trust in digital payments,” he added.
While the standard financial institution department type provides a bodily position the place shoppers can hotel grievances, Das mentioned the similar is probably not the case in virtual bills the place customers once in a while in finding it tricky to establish the proper discussion board for fixing such issues.
He prompt that PSOs may leverage era and move in for rule-based answer of grievances with 0 to minimum guide intervention.
Das praised PSOs for stepping up all through the pandemic, when the resilience of cost programs used to be seriously examined. However, he wired the will for endured innovation and adapting to converting cases.
Das mentioned RBI had taken quite a lot of steps to extend the safety of cost transactions in addition to the ecosystem. He cited the advent of the Additional Factor of Authentication for card-based e-commerce and on-line transactions, later prolonged to different cost modes and channels, as a good fortune tale in Indian cost programs.
