Leading Fintech like the RING app strongly resonates with the centric approach and does not promote fraudulent activities. Hence, it is important to act against rumours like paywithRING Fraud or paywithRING scam that are created to damage the reputation.

1. STAYING AHEAD OF
ONLINE THREATS:
HOW PAYWITHRING
PROTECTS USERS
FROM FRAUD AND
SCAMS

2. Security remains the biggest concern for users while using financial services on a digital
platform. They always want to ensure the platform is 100% secured and protected with
the latest encryption protocols and top-notch security measures. The trend of making
UPI transactions and scanning QR codes has increased comprehensively over the past
few years. Reputable brands have entered the digital payments section and launched
apps to allow users to complete online transactions using their smartphones. This trend
has been raised as one of the most comprehensive factors to accelerate India’s
economy and relax customers by eliminating the need to carry cash or cards. Still,
reports related to identity theft, financial fraud, scams, etc., cause a serious dent in the
growing popularity of digital payments in India. There’s an urge to employ the latest
security measures to stay ahead of online threats. Digital payment apps should focus on
implementing a customer-centric approach to invest more in assuring infrastructure
that helps protect users from fraud and scams.

3. Understands how to respond to evolving online threats
To fight against new-age threats, RING’s security team incorporates robust measures to
safeguard users’ sensitive information. Data privacy remains the platform’s primary goal
to ensure users feel protected while sharing crucial data with the app. While being
customer-oriented, the app has a proactive approach, where they keep their app
updated with all the security measures and have gained the confidence of many users.
Although there have been several concerns about online scams, there have been no
single instances of paywithRING scams. RING’s security team first identifies if there is
any possibility of phishing attacks and takes necessary action to ensure users feel free to
use in-app features. Understanding evolving online threats helps the platform to assess
their impact and find relevant security measures to deal with them.

4. Employs industry best practices and security measures
The app fully understands that it is responsible for safeguarding millions of customers’
sensitive financial information. It, therefore, employs robust security measures to help
safeguard users’ data from falling into the wrong hands due to breaches. RING’s security team
remains updated on how cybercriminals utilize evolving technologies to crack outdated
encryption. That’s why it regularly updates and enhances the platform’s security measures.
Adapting to the latest security measures and industry best practices allows the platform to
create a hi-tech defense system against new and emerging threats.
Stays vigilant about software vulnerabilities
Software vulnerabilities are something that can’t be predicted earlier. Staying vigilant about
these vulnerabilities helps the RING app prevent malicious factors from exploiting the
platform’s system. Moreover, the app adheres to strict RBI guidelines and complies with all
regulations. It helps the platform foster customer trust and build a positive reputation in the
industry.

5. The app always remains ready with backup plans.
Dealing with security challenges by applying a unique approach makes the RING
app special among other digital payment apps. RING applies a comprehensive
and digitalized approach to prevent data breaches, frauds, and scams to ensure
users feel protected while making seamless digital transactions.
Recently, RING forayed into the personal loan space by introducing its new
product, the Power Loan. The product features instant personal loans of up to Rs. 5
lakhs, and borrowers with strong credit histories and positive credit limits can
apply online. The Power loan is provided to customers for up to 2 years and is pre-
approved for RING customers. With the benefits of higher approval rates, it also
comes with competitive interest rates.