Unified Payments Interface (UPI) Transactions have received lots of incentives from the government. It is a real time payment system that allows users to transfer money instantly from one account to another by using mobile phones. It was developed by National Payments Corporation of India and controlled by RBI and Indian Bank Association. But you need to be careful of UPI fraud if you use your smartphone for making payments.
The challenges of cyber security increases everyday and you need to keep yourself updated. When you use your smartphone for making payments then it becomes your wallet that is vulnerable to security breach. But it is not difficult to keep your mobile phone safe and prevent yourself from UPI fraud. Just keep these things in mind and save yourself.
Say No To Screen Sharing Apps
Screen sharing apps can be an easy threat to your security. Even if you have them, do not give them access to your UPI app. If you do give access there is a risk that scammers will know your PIN and Passwords. Disable open relaxation for screen sharing apps by going to app settings.
Protect Your UPI App
Make sure that no one can access your UPI app. You need to set screen lock password and update your UPI PIN regularly. This way your UPI will be safe and you will have no risk of UPI fraud.
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Verify Name Of Beneficiary
Before proceeding with a transaction always verify the name of beneficiary to whom you are sending money. When you scan a QR Code or enter an unknown mobile number; the registered name of the account holder appears on your careen. Always confirm the name before sending the money.
Go For QR Code Or UPI ID
When you are sending money to someone always prefer to send by entering UPI ID or by scanning QR Code because there is a possibility that you enter a wrong number. Always confirm the name of the account. If you are in doubt, firstly send Rs 1 in person’s account.
Update Your App
You have to make sure that your UPI Apps are updated regularly because it is important for security. UPI Apps roll out security features in updates and if you don’t update your app then you are depriving yourself of security and getting in risk of UPI fraud.
These practices are very simple and can be done regularly. Remember that you don’t need to shut yourself out of the world due to issue of cyber security. You just need to bring good habits to practice and you are good to go.
