If you are updated about the world, you cannot miss that fraud involving UPI payments is growing far faster. UPI has simplified payments by placing the payment process at everyone’s fingertips. In less than a minute, people can use UPI apps connected to their bank accounts to send money to the recipient’s bank account.
Even though online payments have made money exchange easier than ever, they have also accelerated cybercrime incidences. So, to help you stay safe, here are the key points to remember to prevent falling for scams when using an upi payment app.
Never share your UPI PIN with anyone.
One of the most crucial things to remember is not giving out your 6- or 4-digit UPI pin to anyone. Before each transaction, the UPI-enabled app requests the PIN. Therefore, a unique PIN must be set up when tying your bank account to your UPI ID. Later, it is utilized to start secure payments in a manner akin to an ATM pin. Therefore, keep your UPI PIN private.
Add a screen lock to your phone.
You should constantly keep a lock on your phone because it contains a lot of critical emails, apps, and other files. Apps with UPI support additionally request your phone’s lock screen password before allowing you to use the app, ensuring a safe transaction. Additionally, the likelihood of fraud is reduced if your phone case is stolen or misused. It is also advised to regularly change the lock screen password to be extra cautious.
Always verify the UPI ID before making a transaction.
UPI-enabled apps facilitate money transfers to the recipient’s designated UPI ID. Likewise, you can use your unique UPI ID to accept payments from other people. You must share the accurate UPI ID and ensure it is correct every time you receive money. The recipient’s UPI ID should always be verified twice before a transaction.
Avoid using more than one UPI app.
Flipping between several UPI apps on your phone might be somewhat perplexing. There is no benefit to using multiple UPI apps. Rather, it tends to guide you into committing any kind of error. Any app can be used to conduct free UPI transactions with anyone. Because UPI is interoperable, transactions can be made between two users using any bank or upi payment app.
If the person is using an app other than yours, you might not be able to pay them with just their phone number. However, you can always ask for their UPI ID or scan their QR code to make payments with different apps.
Don’t click on unverified links.
Apparently, people have fallen victim to scams several times after clicking on links they received over email or SMS. When you receive links on your phone that don’t seem legitimate or suspicious, don’t click on them. These links are often used to breach your phone, steal your identity, and get your PINs and banking credentials stolen.
Occasionally, hackers posing as bank representatives would call people. Additionally, they offer links via SMS, asking consumers to download an app or enter their PIN. Share no-secret passwords, OTPs, or PINs; never fall for these tricks.
Final thoughts
These are the main things you must remember when using various upi application options. You can start an online savings account using your mobile banking app to enjoy the benefits of UPI payment apps.
