TPAPs can implement stricter fraud detection algorithms that flag suspicious activities in real time. Features like multi-factor authentication, detailed transaction summaries, and reminders to verify recipient details before approving payments can reduce user errors. Regular updates to security protocols are vital to staying ahead of evolving scams.
Additionally, TPAPs should invest in user education by offering tutorials and warnings within their apps about common fraud tactics. Working together with regulators to design industry-wide anti-fraud strategies will strengthen the ecosystem. Building user trust requires TPAPs to balance innovation with robust safety measures that protect users from financial loss.
