RBI governor Shaktikanta Dashas slammed the lack of an effective grievance redress mechanism for customers among many payment system operators, underlining the need for the industry to treat every fraud and complaint as a cause for concern requiring detailed root-cause analysis.
“While there is wide appreciation of the Online Dispute Resolution (ODR) system conceived by RBI, how many payment system operators (PSOs) have actually enabled it? Should not the entities embrace such initiatives upfront and enhance customer satisfaction? After all, PSOs deal with public money,” he said in a speech at a PSO Conference in Kochi on Saturday.
Das cautioned that public trust in digital payments would be eroded without efficient resolution of disputes. “Availability and affordability of an expeditious grievance redress mechanism is of utmost importance to ensure public trust in digital…
“While there is wide appreciation of the Online Dispute Resolution (ODR) system conceived by RBI, how many payment system operators (PSOs) have actually enabled it? Should not the entities embrace such initiatives upfront and enhance customer satisfaction? After all, PSOs deal with public money,” he said in a speech at a PSO Conference in Kochi on Saturday.
Das cautioned that public trust in digital payments would be eroded without efficient resolution of disputes. “Availability and affordability of an expeditious grievance redress mechanism is of utmost importance to ensure public trust in digital…
