Unified Payments Interface (UPI) has transformed digital transactions in India, making them quick and seamless. However, as its popularity grows, so do the risks of fraud. Here’s a comprehensive guide to ensure your UPI transactions are safe:
Contents
1. Protect Your UPI PIN
- Never share your UPI PIN: It is personal and required only to authorize payments. Even bank officials or customer service representatives should not ask for it.
- Avoid saving your PIN: Don’t save your PIN on your phone or share it over chat or emails.
2. Verify Before Transacting
- Check recipient details: Always confirm the receiver’s UPI ID or mobile number before completing a payment.
- Avoid random QR codes: Scanning unverified QR codes can lead to unauthorized money transfers.
3. Beware of Fraudulent Calls and Messages
- Don’t trust unsolicited calls: Fraudsters may impersonate bank officials and ask for sensitive information.
- Ignore suspicious links: Never click on links claiming cashback offers or transaction failures; they could be phishing attempts.
4. Secure Your Device
- Use strong passwords: Ensure your phone is protected with a strong password or biometric lock.
- Install authentic apps: Only download UPI apps from trusted sources like Google Play Store or Apple App Store.
5. Monitor Transactions
- Enable notifications: Turn on SMS and app notifications for every UPI transaction.
- Review statements: Regularly check your bank statements to identify unauthorized transactions.
6. Use Official Support Channels
- Avoid unknown support numbers: For issues, always contact the official customer care of your bank or UPI service provider.
- Report fraud promptly: If you suspect unauthorized transactions, report it immediately to your bank or through the official UPI app.
7. Educate Yourself
- Stay updated: Learn about common scams such as fake refund requests, phishing, and SIM card swapping.
- Know your rights: Be aware of grievance redressal mechanisms provided by your bank and UPI app.
Additional Tips:
- Do not approve “Request Money” notifications unless you are expecting them.
- Use separate devices for high-value transactions, if possible.
- Avoid using public Wi-Fi for UPI transactions.
By following these precautions, you can ensure that your UPI transactions remain secure and hassle-free.