EY’s *Digital Payments Ecosystem of India* report emphasizes the critical role of cybersecurity and resilience as digital payments surge across the country. With a 44% CAGR in FY 2023–24 and UPI dominating transactions, India leads globally in real-time payments. However, rising fraud—UPI fraud alone increased 85% in FY24—underscores the need for robust security. The report urges ecosystem-wide collaboration, adoption of GenAI for fraud detection, integrated cyber-risk management, and compliance with the DPDP Act. It advocates proactive strategies to secure transactions, ensure trust, and future-proof India’s digital payments landscape.

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