Mumbai: UPI stands for Unified Payments Interface. It’s a system developed in India and is managed by National Payments Corporation of India (NPCI). It allows users to transfer money between bank accounts using their smartphone. It’s kind of like a digital wallet, but it can be linked to multiple bank accounts and works across different apps.
UPI Safety Tips:
Enter UPI PIN only to deduct money from your account. UPI PIN is NOT required for receiving money
Check the receiver’s name on verifying the UPI ID. Do NOT pay without verification.
Enter UPI PIN only on the app’s UPI PIN page. Do NOT share UPI PIN with anyone.
Scan QR only for making payment and NOT for receiving money.
Do not download any screen sharing or SMS forwarding apps when asked upon by any unknown person and without understanding its utility.
Never share your UPI PIN with anyone. It’s as confidential as your ATM PIN or internet banking password.
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Be cautious of emails, messages, or calls claiming to be from your bank or UPI service provider asking for your PIN, OTP, or other sensitive information. Do not click on suspicious links or download attachments from unknown sources.
Download UPI apps only from official app stores like Google Play Store or Apple App Store. Avoid using third-party websites or unverified sources to download apps.
Double-check the recipient’s UPI ID or mobile number before confirming a transaction. Ensure the amount entered is correct to avoid accidental overpayments.
Regularly update your UPI app to the latest version to benefit from security enhancements and new features.
Regularly check your bank statements and UPI transaction history for any unauthorised transactions. Immediately report any suspicious activity to your bank.
Set daily transaction limits to minimise the risk in case your UPI account is compromised.
Enable app lock features available in most UPI apps to add an extra layer of security.
Avoid performing UPI transactions over public or unsecured Wi-Fi networks. Use a secure and private internet connection.
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