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Google announced improved security features for Google Pay as digital transactions in India increase.
Google mentioned that it is employing machine learning to improve fraud detection in Google Pay. The company announced improved security for users paying digitally through its popular payments app Google Pay. These include multi-layered warnings to alert users of any fraudulent activity on their account.
"Our highest priority is to safeguard people on the internet every day, and AI is foundational to this effort. As the number of digital users and businesses grow in India, so do the attack surfaces. Analysing and improving cybersecurity across surfaces is no longer a human-scale problem, it needs to be supplemented with sophisticated technology. AI can help respond to these unprecedented challenges efficiently, effectively, and at scale. We are committed to deepening the role of AI in helping respond to complex and shape-shifting cybersecurity challenges and enabling a safe and secure experience on the internet for all Indians."
- Royal Hansen, Vice President, Privacy, Safety, and Security, Google
While digital payments are on the rise in the country, it has also given the scope for financial fraud and they're also on the rise. According to a survey conducted by a private firm LocalCircles, 42 percent of Indians experienced financial fraud in the last 3 years and 74 percent of those failed to get the money back.
The survey conducted in October 2021 revealed that 29 percent of citizens share their ATM or debit card pin details with close family members, while 4 percent share them with their domestic and office staff. This is despite multiple efforts from governments and banks to not share any sensitive data with anyone.
Google also announced a collaboration with India's National eGovernance Division (NeGD) to enable easy access to digital documents, directly from the Files by Google app on Android. The documents stored in the Files app will be in an isolated environment on the device and are accessible using a unique lock screen authentication.