New Delhi: Digital payments have become our way of life in the new normal, but one cannot overstate the downside of using UPI payment apps including GPay, Paytm, PhonePe and others.
Even as payment apps facilitate us during transactions, you need to be careful with UPI payment security tips and tricks to avoid falling prey to cyber frauds.
Unified Payments Interface (UPI) usage across the country has increased 70 times in the last four years as Indian customers have now moved to platforms with advanced expertise such as UPI, which do not require POS machine intervention and issue authentication. According to an analysis by State Bank of India.
From kirana stores to shopping malls or even vendors in your locality, everyone has started accepting payments through digital modes. There are certain things to be taken care of during such transactions, such as not clicking on random links, answering fraudulent calls, sharing required transaction details like PIN number, password etc.
here are the steps to follow During UPI Transactions
Remember not to share the PIN: One of the most important things is to never share your PIN, be it a friend, family member or a trusted person. This is because sharing a PIN can leave you vulnerable to fraud. Also, be sure to change it immediately if you’ve shared it with anyone.
Create strong password: It’s also important to lock your phone and payment apps using strong passwords. Remember to avoid using simple passwords like your name, date of birth, mobile number etc. Use a combination of letters, numbers and characters to make the password strong.
Never click on unverified links: Sometimes we receive fake messages from unverified accounts or numbers with links on our phones and emails. Make sure not to click on them as fraudsters try to offer you lucrative deals by telling you PIN, OTP etc. The fraudster may pretend to call your bank or any other organization and ask to share the details. By clicking on these links or answering such calls, many persons have become victims of such transactions/cyber fraud.
Avoid using multiple apps: Try to keep the transaction mode simple. It is important to use a reliable and verified payment application. Using multiple apps increases the chances of fraud.
Update UPI App Regularly: Every application needs updates and each update brings better features and benefits. You should always update the UPI payment app to the latest version.
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