Abstract India's rapid adoption of digital payments, driven by the Unified Payments Interface (UPI), smartphone penetration, and digitalization initiatives, has transformed financial transactions. However, this growth has also increased cyber security risks such as phishing, OTP fraud, SIM-swapping, and data breaches. This study uses a descriptive analytical approach based on secondary data from the Reserve Bank of India (RBI), CERT-In, the National Payments Corporation of India (NPCI), and consumer trust surveys (2021–2024) to examine the impact of cyber security threats on consumer trust in digital payments. The findings reveal that rising cybercrime incidents negatively affected consumer confidence, particularly among first-time and semi-urban users, while regulatory measures helped mitigate some of these concerns. The study highlights the need for stronger cyber security frameworks and enhanced financial literacy to sustain trust in India's digital payment ecosystem.
Jitendra Harichandra Raut (Wed,) studied this question.