The card that fights back: India’s next era of payment card security
By Naresh Rao, VP & Sales Head Issuance Products, Giesecke+Devrient (G+D)
India’s digital payments ecosystem has become one of the world’s biggest success stories. From neighborhood Kirana stores to global e-commerce platforms, Indian consumers can now reliably expect every payment to be instant and seamless everywhere. But the same convenience that has fueled this growth has also created new opportunities for fraud.
According to RBI data, there has been a more-than-tenfold surge in reported fraud between 2021 and 2025, with the Reserve Bank of India (RBI) reporting that losses soared from INR 551 crore to INR 22,931 crore during that period.
At the heart of this trend is the fact that, with consumers more inclined to transact online and save their card details, those credentials become easier target for cybercriminals.
From payment tool to security device
For decades, payment cards were designed to identify an account and authorise a transaction....
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