The government has come out with several rules to boost digitalisation in the country, especially where money transactions are involved. After the outbreak of coronavirus pandemic people have also started preferring online or digital transactions rather than cash. As a result, making online payments via UPI payments functionality has increased in the last few years in India as is clear from massive download numbers of apps like GPay, Paytm, PhonePe and others. However, it needs to be noted that UPI payments have their own pros and cons. Therefore, you need to be aware of all the top UPI payments safety tips and tricks and thereby save yourself from suffering money loss. You need to be alert and stay protected from online or cyber frauds at all times. A simple click on the wrong link, answering fraud calls, providing your essential details like PIN etc., can cause you huge losses.
Online payment facilities are available everywhere. May it be a grocery store of the locality, shopping mall, or even vendors, everyone accepts online transactions. The process of making online payment is not only simple and easy but also reduces the need to keep cash or loose change. To make an online payment via Unified Payment Interface (UPI) you simply need to scan the code, enter the amount, pin and your payment is done.
There are several apps which allow you to make online payments like Google Pay, PhonePe, Paytm, etc. If you use any of these apps you need to take care of certain things to avoid fraud and loss of money. Here are some of the safety tips which you should consider while making UPI payments.
1. Screen lock: You should set a strong screen lock, password or PIN not only for your phone but also for all payment or financial transaction apps. Avoid keeping simple passwords like your name, date of birth, mobile number, etc.
2. Do not share your PIN: You should never share your PIN with anyone. Sharing your PIN makes you vulnerable for frauds as anyone can access your phone and transfer the amount. In case you feel that your PIN has been exposed, you should change it immediately.
3. Do not click on unverified links or attend fake calls: Lots of fake messages containing links of some unverified keeps on popping in your inbox. You should avoid clicking on such links as it can cause you huge financial losses. You should also avoid picking up fake calls. The caller pretends to be calling from your bank or some other organisation and can ask you for your details like PIN, OTP, etc. Hackers usually share links or make calls and ask users to download a third-party app for verification. It can be noted that banks never ask for PIN, OTP or any other personal details.
4. Keep updating UPI App regularly: Every application requires an update and each update brings better features and benefits. You should always keep updating the UPI payment app to the latest version.
5. Avoid using multiple payment applications: You should avoid keeping multiple payment applications in your phone. You should only install trusted and verified payment applications.
Copyright © HT Media Limited
All rights reserved.