6 important tips to remember before making UPI transactions
India Today
SBI has shared some important tips for safer UPI transactions to avoid fraud. Always remember these points before processing any UPI payment.
Raising awareness around cyber security and safer UPI transactions, The State Bank of India (SBI) has shared some important tips. The Unified Payments Interface (UPI) is an instant real-time payment system by the National Payments Corporation of India to make money transfers truly cashless and paperless. The use of UPI has shifted India towards the digital wave giving the convenience of making transactions with a single click.
But with convenience comes responsibilities. UPI transactions are easy to use but a little carelessness can lead to vulnerabilities. So, in order to be safe from cybercrimes, frauds and scams related to UPI transactions you should always be alert. Raising awareness on the same matter, SBI has taken to Twitter to share tips for safer transactions.
Let's take a look at the UPI security tips shared by SBI to make UPI transactions safer and more secure.
No UPI Pin is needed while receiving a payment
If you are receiving money from someone via UPI, then no UPI PIN is needed. For those who don't know, UPI PIN is the number you enter whenever you are sending money to someone to make a transaction. So, be alert if someone asks you to share your UPI PIN while receiving money.
Always verify the identity of the person you are sending money to
Whenever you are making a UPI payment via a QR code or phone number, cross-check the person's identity. Never send money via UPI to an unidentified person via a QR code or phone number.
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