Business

Is the UPI payment app safe to use for money transactions?

It is common psychology to doubt the safety of things when they are online! That is why people often question the safety of online money transactions through UPI apps. In addition, we often hear about online scams and how the malicious elements washed away all the money from someone’s account. All this news builds a fear around using a UPI transaction app. But does that mean you should not be enjoying the perks of this fast-growing payment option? 

To cut the story short, your choice of app decides the safety of your online transaction. If you choose an app like the Fave App, you never have to worry about payment failures, scams, or data security issues. These apps comply with all the rules set by the NPCI or Reserve Bank of India, offering a safer and more reliable interface for the users. Moreover, they use data encryption techniques to keep your information safe from data thefts. 

How to ensure safe transactions through UPI?

Listed below are steps that you can follow to carry out safer transactions through any UPI transaction app

Stay Informed

It is ideal to understand the terms of use before you start making UPI transactions through an app. Gather as much information as you can and thoroughly understand the app and its functioning. Pay attention to simple things, like you do not have to scan any code to receive payments. The idea is to make sure that lack of awareness is never a reason behind you getting caught in a fraud.

Do not share passwords

It is an obvious yet crucial thing to mention here that you are not supposed to share your PIN or passwords with anyone. Even if someone calls and says they are from your bank and need your password to save your account, do not do that! These can be fraud calls impersonating your bank manager, and the moment you share your password, they will take away all your money. The ideal way is to get the information by visiting your bank or calling the authorized numbers. 

Verify the Transfer Requests

If you get a transfer request from a business or a person, verify the details before making any payment. You can find the basics like the name and address of the person. Check these details before proceeding. If you receive a QR in your email or WhatsApp, but you have no information about it, avoid scanning them.

Limit Screen Access

Another example of fraud is when a person asks for your screen access to guide you through some process. For example, it can be a call from a phone company asking for screen access to explain features! Once you give this permission, they can view your screen and will get to know all your passwords to proceed with their ill wills. Thus, do not give the screen access to anyone under any circumstance. 

These are the simple things you can do to enjoy a safer and more secure online transaction through a UPI app. It is a revolutionary move in the payment industry and is much safer and fuss-free than other payment options. Do not let the fear of the unknown be the reason for not enjoying the perks this service can offer. Stay a little vigilant and enjoy a seamless online shopping and payment experience.

So this is all about Is the UPI payment app safe to use for money transactions? I hope you may have understood all the points in which you had doubts. If you still have any doubt please let me know. leave comment below.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button