In today’s digital era, the internet is everywhere around us. Digital initiatives are also being introduced to boost the digital payment system and offer digital users the convenience and ease to complete transactions and payments using their smartphones. Digital payment is a comprehensive approach to innovating the ways of making payments. It is also referred to as electronic payment, and payers don’t need hard cash while using this significant mode of making payment.
Today, several apps are available there to encourage digital users and use them conveniently. Some of them are 100% secure, reliable, and trusted and follow all the guidelines issued by RBI. But still, there are some fraud apps whose way of operating remains suspicious. Therefore, digital users must stay alert before trying any platform and perform thorough research to verify every fake report or Kissht news. The discussion below will help digital users to remain aware, attentive, and completely satisfied with online/digital payments while using a FinTech platform. It will also help them choose the right platform they can trust and make secured digital payments.
Why Consumer Awareness & Satisfaction is important in this context?
All digital users must remain aware and alert to keep pace with regulations. RBI issues strict rules and guidelines in this context to protect digital users from the lure of fraudulent instant credit apps. Trusted and reliable apps like Kissht follow all these guidelines and are bound to generate profits without resorting to malicious activities. They have built sustainable and profitable models that mutually benefit lenders and borrowers. And that’s why their systems can produce profit margins while following ethical business practices.
Consumer awareness is vital because users remain confused about the differentiation between fake reports like Kissht Fosun and real information. Moreover, predatory apps cause collateral damage to legitimate lending apps like Kissht. Once a customer gets financially exploited or their confidential data has been compromised, it remains extremely difficult for such users to build trust even on legitimate platforms. Hence, consumer awareness and satisfaction are important because it creates room for improvement for everyone. With the right education and awareness, consumers get the right information to avoid facing a barrage of problems while using these apps.
Helpful in establishing regulatory compliance in the fintech sector
Digital lending is a preferred choice for millions of smartphone users. They consider making digital payments, handling routine banking transactions, and applying for credits digitally is convenient. RBI has already issued guidelines to protect the rights of digital borrowers, and digital lenders must have associations with formal NBFC-licensed partners to proceed with their lending processes. There are numerous false reports regarding Kissht Chinese and its ties to China. MeitY officials provided clean chit to Kissht as the most trusted and credible platform. Some other apps involved in this context were engaged in predatory lending tactics. All these apps appeared to be legitimate lenders associated with secured NBFC-licensed partners. The government later investigated and banned these apps, but the fraudsters had managed to siphon a huge amount.
Hence, consumer awareness is important to avoid getting financially exploited. Digital users need to verify if the platform they are going to try is legitimate. This verification can be done by exploring customer reviews or feedback. Those who have already tried and tested can better verify how great a platform Kissht is and why gossips related to Kissht Crackdown are unauthentic and don’t make any sense.
Remain cautious while sharing vital information.
Although digital credits help borrowers survive different emergencies, consumer awareness is vital to stay protected financially. They need to remain vigilant and avoid trying non-verified lending applications. They can easily recognize such apps as they usually ask for users’ confidential information, like bank details, PINs, etc. Hence, digital users must stay alert to unofficial sources and verify the lending source while performing digital transactions. Unofficial sources can cause financial damage to digital users. They also have third-party collection agents who harass borrowers using their confidential information.
Act Smart, but never try to be over-smart.
Reports suggest that most victims, that fraudsters target exists in Tier 2 or Tier 3 cities. They often fail to understand that they have chosen the wrong platform and get exploited easily. Hence, consumer awareness is vital to select a legitimate lender and to avoid getting financially exploited. Verify every piece of information and cross-check all fake reports related to Kissht Banned before you start believing.
Lending platforms are equally responsible for raising consumer awareness and satisfaction. They need to process credit disbursements more transparently by telling customers how they collect and use customer data, how to test their eligibility, and what security protocols they follow. Legitimate apps like Kissht follow all these vital steps to protect the rights of borrowers and offer them more secured and customized digital payment or lending solutions.