NPCI, IDRBT Strengthen Cybersecurity Across India's Digital Payments

India's National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDRBT) have signed a memorandum of understanding to enhance cybersecurity and resilience within India's rapidly expanding digital payments ecosystem, including UPI. This collaboration will focus on training, awareness, and proactive risk management, alongside launching an NPCI-certified payment security certification program for professionals. Meanwhile, cryptocurrency adoption among businesses remains limited due to concerns over Bitcoin's price volatility, which SpacePay aims to address by instantly converting crypto payments into cash, thereby protecting merchants from market fluctuations. Security remains a critical concern in the crypto space, with experts emphasizing the importance of multi-factor authentication, offline seed phrase storage, and multi-signature wallets to safeguard digital assets. Privacy challenges with Bitcoin's public ledger have also led to innovations like Cake Wallet's Silent Payments feature, which enables users to receive Bitcoin without revealing their public wallet address, helping protect against extortion and privacy breaches. Together, these developments highlight ongoing efforts to secure digital and crypto payments through technological innovation, education, and enhanced privacy measures.