In recent years, the number of digital transactions has grown exponentially. With the increase in digital literacy over time, people have started trusting this monetary transaction and payment mode more than ever. This has also boosted the use of the United Payment Interface (UPI) via smartphones.

As UPI payment methods are regulated by the Reserve Bank of India, they are considered very smooth and secure in the eyes of the public. You may transfer your money from one UPI app to another UPI-enabled app without worrying about your data being misused or stolen. However, it is still essential to be cautious while making these transactions and keep in mind a few things to protect yourself from any potential loss. In the following article, we will learn about some tips and tricks regarding safe UPI payments.

Tips for Making Safe UPI Payments

Here are a few safety tips that you must remember when you are making online payments through UPI:

  • Keep your UPI Access Secure: The only thing that is related to the UPI ID that you should share is your UPI address. This address can either be your phone number, QR code for receiving your payments, or your VPA (Virtual Payment Address). Other than these three, it would help if you did not share anything else with anyone. This must be stressed upon so that your transactions and personal information is protected. You should not give access to your UPI account to anyone through any payment app or even your bank app. It is essential for safety purposes while making UPI payments. While entering your PIN details or unlocking your phone, you must make sure that it is not seen by anyone else except for you. In case of any doubt, you must change your PIN or the password immediately. There are several options available in the market for increased security. You may also consider an excellent payment gateway offered in the form of Zaakpay.
  • The Screen Sharing or Recording Apps must be Restricted: Access to the screen sharing or recording apps should not be given to your UPI apps. This is also a possible gateway for fraud to get into your system. If this happens, the consequences may lead to a possibility of data leak of your sensitive financial information. Essential details such as your passwords or OTPs will be at risk. Thus, it is essential to restrict these apps from being accessed, to protect the data from being compromised. Secure payment gateways must be used with care to avoid any potential fraud or financial loss.
  • You must Verify the Registered Name on the UPI ID: You must make sure who the receiver is before initiating any transaction. In the process of making a UPI payment, when you first manually add the number or scan the QR code of the receiver, their registered name will pop up on your screen. It is always a good practice to make sure that the receiver is the right person. UPI transactions are non-reversible. Thus, it is essential to be 100% sure before making a payment. There are several platforms available for UPI payments in the market. Zaakpay is considered one of the best payment gateways in the country and ensures smooth and safe online transactions.
  • You must Stay Alert from Unverified Links or Fake Calls: It is essential to note that to receive any payment, you are not supposed to use your UPI PIN or scan a QR code. Instead, it is the sender who may require those credentials. There have been cases where people have received fake calls to obtain these credentials from UPI users. Thus, it is essential not to share them with anyone. You may also receive random links or an invitation to download third-party applications with a chance to take advantage of a lucrative offer. However, secured payment gateways do not work like that. Usually, these are fake calls with the intent to commit some sort of fraud by unlawful elements. People who make UPI payments must be aware of this risk and must be cautious of fraudulent activities. If you may fall for this prey, you can even end up jeopardizing all of your sensitive financial information and personal data, which can be used to cause huge losses for you.
  • While doing Remote Transactions, Prefer UPI ID Over your Phone Number: Often, people end up typing the wrong number while processing a digital payment. This simple mistake can also cause a risk of loss while making a UPI payment. Most mainstream payment gateways, such as Zaakpay, also offer other options such as scanning QR codes or your UPI IDs. In cases of remote transactions, you should always go for these options as they are comparatively safer. To be more secure, you can also send Re. 1 to the desired receiver and then verify if it took place successfully or not. After this trial transaction, you may go for the total amount.
  • Keep your UPI App Updated: It is essential to keep your UPI app updated to make the most of this facility on your smartphone. Regular updates keep coming, and you must take the time to do so as this might protect you from a possible loss. These upgrades bring an added edge to the security and other features and make their users less prone to multiple risks. You should also avoid using multiple apps for making UPI payments. One UPI app is enough to get the work done as UPI provides interoperability.

In conclusion, we can say that the UPI payment method is a great way to make online transactions. It is straightforward to send or receive money by using them, and the payment gateway provides an excellent level of security. There are multiple platforms available in the market that offer this service. At Zaakpay, we offer simplified payment solutions for your business. It offers one-tap payments and gives the benefits of the advanced payment collection models.