The UPI payment fiasco: Starting at the end of the day today, 10th May, the general public is likely to encounter issues while trying to purchase petrol and diesel at fuel stations. As of now, a majority of individuals utilize UPI payment systems. Starting tomorrow, UPI payments will not be available at fuel stations. The reality is that petrol pum p owners in Maharashtra are threatening to go on strike due to the freezing of their bank accounts associated with some cyber fraud issues.
As per news from TOI, Uday Lodh of Federation of Maharashtra Petrol Dealers claims that if the authorities sit idle, this agitation will impact several regions including Mumbai. In Mumbai, this agitation is likely to be one day on 10th May. Lodh stated that funds associated with cyber fraud were frozen in the accounts of some petrol stations which led to their accounts being frozen which is what is frustrating digital payment reliant pump owners. A lot of pump owners from the Vidarbha region have had the backed accounts frozen and it is from there that the agitation can spread. He made it clear that it is none of our business how and through what means a customer makes payment at the petrol station. We sell petrol; it is not our responsibility to pay the blame.
As per the association, some petrol pump owners in Nagpur do not plan to accept any form of digital payments starting May the 10. These pumps shall provide petrol and diesel only on a cash payment basis. The way most cyber crimes are conducted today is through methods such as UPI, credit cards, and debit cards. Cyber crimes exploit these methods of payments.
Chetan Modi stated that in the case of account blockage, this is not the only protest. The account blockage protest focuses on additional fees charged by banks and digital payment firms. From the perspective of a petrol pump owner, the financial losses are even greater due to insufficient funds servicing of the account receiving payments. Less and fewer amounts are reaching the pump owner’s account.
Two petrol pump owners subclaims and sources report that numerous cyber fraud cases have been perpetrated by ownerless robber ids and cloned UPI accounts deceptively purported as genuine UPI and bank ID transactions. There seems to have been no witnesses and investigating agencies have deemed these pump owners as ‘beneficiaries’, instead of illusionary perpetrators, something we hope for powerful credence are valuation in. Payment sidestepping continues to plague us. Uday Lodh stated 50-55% of transactions are now cashless, and there is no way those who paid can be verified.
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