5 Ways You Can Avoid UPI Fraud & Protect Your Money

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UPI was launched by NPCI in 2016. In India, it has grown faster than other methods of digital payment.

Our country is slowly adopting digital payments. The government is also continuously making efforts for this. The National Payments Corporation of India (NPCI) is continuously making people aware about the Unified Payments Interface (UPI). Through UPI, customers can easily and instantly send money from one bank account to another on real time basis. For this, there is no need to give the bank account details or bank code to the user. A person can use multiple bank accounts on the same app. UPI was launched by NPCI in 2016. In India, it has grown faster than other option of digital payment.

If you are sending money through UPI, then how to avoid fraud, we are telling you this post:

 

Do not share such confidential information with anyone including card number, expiry date, UPI PIN, OTP. If you are asked to give such information by someone pretending to be an official representative from a bank or a third party mobile app, ask them to send you an official email (do not share your email ID because Banks or third party apps will already have their email IDs in their records).

Only respond to emails from your bank’s official domain or third party app.

Various payments related applications warn you about spam numbers. If you are receiving a payment request from an unknown account, keep an eye on spam warnings.

If you come to know about any suspicious account, then tell your bank about it immediately.

Always buy products from reputed online merchants and markets. Through reliable e-commerce platforms it will ensure that your payments are secure.

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