Know how to protect yourself from fraud on UPI apps like Google Pay, PhonePe

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Anamika Chauhan

Pune, 27th December 2021: Be careful if you use UPI payment apps like GPay, Paytm, PhonePe. As much as it facilitates our transaction pattern, it also has some disadvantages which need to be taken care of.

 

UPI bank account holders enable sending and receiving money using Virtual Payment Address (VPA), a unique ID without the need for additional bank information. Fraudsters ask for a Virtual Payment Address (VPA) over a phone call or by chat. So while using such apps, users should be aware of the UPI payment security measures to avoid falling prey to cyber fraud.

 

Some simple steps are: Not clicking on random links, answering fraud calls, providing necessary transaction details like PIN number, password etc.

 

Don’t share your PIN: Never share your PIN. Be it a friend, a family member, even someone you trust immensely, sharing a PIN with anyone can leave you vulnerable to fraud.

 

Be alert for transfer request over UPI: Fraudsters can dupe by requesting to send money on UPI apps like Bharat Interface for Money (BHIM), Google Pay, PhonePe etc. The fraudsters ask to transfer money using the ‘Request Money’ option of the UPI apps. Several cases of such frauds have come to light in the last few months.

 

Have a strong password: Lock your phone and your payment apps with a strong password. Usually, most people use simple passwords like name, date of birth, mobile number etc. It should be avoided. To make your password strong, include letters, numbers, and symbols.

 

Keep your transaction mode simple:  The simpler the transaction mode is, the safer you are while using it.

 

Update the UPI app regularly: You should always update the UPI payment app to the latest version.

 

Thus, be careful if you use UPI payment apps like GPay, Paytm, PhonePe.