Is Debit Card Secure or Google Pay / Phone Pay ?

Is Debit Card Secure or Google Pay / Phone Pay?

Money transactions are changing very fast day by day and they are becoming very convenient from the point of view of common people. This is the reason why the trend of contactless payment has increased a lot in recent times. In the past few months, these transactions still increased significantly as the Reserve Bank of India also took the initiative and limited the growth of financial transactions on contactless payments. There are many options available to the citizens like Credit Card, Debit Card, Google Pay through UPI, Phone Pay etc. But still many people ask the question that which of these options should be traded based on? Debit Card or UPI based Google Pay / Phone Pay etc? Which option is less complicated and more secure? Which option has the least chance of fraud?

Experts say in this regard. Each option has some advantages and some limitations. However, transactions using credit cards, debit cards can sometimes take time. In comparison, transactions done with the help of UPI or mobile wallet are very quick. It doesn't take much time. Now most of the online platforms also have the option of UPI or mobile wallet. Experts say that this option is the fastest and safest

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Merchants and shopkeepers do not even need expensive 'POS' (Point of Sales) machines or terminals for transactions done through this medium. However, some other transactions may require these machines. Shoppers can also save money as there is no need for these machines. Also, everyone saves time. Since there is no need to hand over your cards etc., the chances of fraud are reduced.

This option is convenient for most of the people as through UPI multiple banks come on one platform, multiple banks can be linked on just one account basis and all transactions are done instantly. The use of UPI transactions has also increased due to its strong security.