Introduction
Out of 8400 crore UPI transactions in 2023, around 1.5 crore(0.017%) transactions were sent to the wrong UPI address, which can value upto ₹1400 crores. I designed a feature which can be integrated in the current UPI interface to prevent wrong transactions.
My Role
Product Designer, Research, Prototyping
Tools
Figma
Timeline
2 days- Sprint
Problem Statement
No feasible way to reverse wrong transactions.
Once the payment is transferred to the wrong bank account.
- Transaction cannot be reversed from the UPI application
- You have to contact the bank and file a complaint.
- If the receiver's account is in a different bank, you have to physically go over to that branch.
- The money can be only reversed if the receiver also agrees.
User Research
I conducted an online survey with 40 participants, and interviews with 2 participants to gain insights into the specifics and reasons for the problem.
Analysis
- 30% of people have faced wrong UPI transactions once in their life.(13 out of 40)
- 100% of these are P2P transactions.
- 10 out of 13 are due to mistyping.
- 0 wrong transactions in QR based payments.
Findings
- Majority of errors occur in P2P payments(between 2 persons).
- The main reason is adding an incorrect UPI id or number or mistakently selecting a similar name.
- Cases where an incorrect payment amount was entered are also present.
User Persona
The User Group includes everyone who uses UPI for payments.
Rahul(22)
People who enter wrong details
about
Rahul is a college student who lives in an urban city. He's doing his bachelors in technology.
problems
He has often encountered issues with wrong payments caused by typing errors.
Rajesh(50)
People who fall into online scams
about
Rajesh is a teacher who lives in a small town and sends money through UPI to his daughter every month.
problems
He has been scammed once and is hesitant to use UPI and prefers to visit bank for transactions.
Proposed Solution
UPI Suraksha Kavach - undo transactions for a specified time.
Next Steps
By collaborating with banks and UPI, a more robust method to undo transactions can be implemented.
01
Making a permanent undo feature to solve the issue of wrong transactions.
02
Implementing features to reduce and prevent the ever-increasing frauds and scams.
03
Conduct better research and testing to furthur iterate and refine the feature.