Role of data analytics in fraud prevention for fintech

The digital payments ecosystem in India has grown significantly in recent years driven mainly by e-commerce, mobile, and contactless payments systems. With expanding merchant acceptance and digitization of value chains, the growth momentum of digital payments is likely to continue unabated in India. In fact, the digital payments market in India is expected to touch INR 280.84 trillion by 2027, as per a report by ResearchAndMarkets.com. The digital payments market is projected to continue growing at a CAGR of 15.73% till 2027, as per the report.