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UPI fraud: SBI shares 6 tips while using or making UPI transactions


The Unified Payments Interface (UPI), which was launched in 2016. has revolutionized real-time payments in India. Digital payments in India have shot up in the last two years amid the Covid-19 pandemic. Undoubtedly, cashless transactions are very beneficial to all. It saves time, energy and paper. But along with the several benefits associated with the digital transactions, the problem of scamsters siphoning off the money from people accounts cannot be denied. Nowadays, scammers find different ways to rob people off their money.

During the lockdown induced by the COVID-19 pandemic, people received money in their bank accounts just by pressing a button, Nirmala Sitharaman said. She was speaking in Pune on ’20 years of Modi governance’. Several doubts were raised about how electronic payments would work, especially in rural areas where Internet connectivity is patchy, but now “in spite of COVID India leads the world in UPI payments,” said the minister.

According to the data released by the National Payments Corporation of India (NPCI), UPI transactions rose astronomically to 10.7 trillion in August.

The State Bank of India (SBI) has shared some UPI security Tips to make UPI transaction safer and secure. While sharing the video, SBI said, “Always remember these UPI security Tips while using or making UPI transactions. Stay Alert & #SafeWithSBI.”


SBI shares 6 tips for making UPI transactions safer

1) You don’t need to enter your UPI Pin while receiving Money.

2) Always verify the identity of the person you are sending money to.

3) Do not accept random\unknown collect request.

4) Do not share Your UPI Pin with anyone.

5) Always verify the beneficiary details while making payement through QR quote.

6) Change your UPI pin on a regular basis.

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