Axis Bank Boosts Digital Payment Security with New Features

Axis Bank has rolled out two new features aimed at bolstering customer control over digital payments: UPI Limit Management and International Travel Declaration. These initiatives are part of the bank’s broader ‘Safe Banking’ effort, balancing security with user convenience.

The UPI Limit Management feature allows users to set personalized transaction limits. These limits apply to various UPI payment types, including Person-to-Person (P2P), domestic merchant, and international merchant payments. Customers can configure these settings through the Axis Mobile Banking App, ensuring they apply across all linked UPI applications.

This system aims to mitigate financial exposure from potentially unauthorized or accidental high-value transactions. The bank is initially deploying this feature to a select group of customers, with a wider rollout anticipated. It serves as an an additional safeguard, not a replacement for standard security measures.

For eligible credit card customers, the International Travel Declaration feature offers a digital method to inform the bank of upcoming overseas travel plans. By providing this information in advance, the bank’s fraud-detection systems can more accurately assess international transactions. This proactive measure is designed to reduce the incidence of legitimate purchases being declined due to unusual spending patterns or geographical changes, ensuring a smoother international payment experience while upholding robust security protocols.