Is It Safe to Use UPI Payment Mode for Money Transaction?

After demonetization, India’s banking world has not been the same. The move towards a cashless economy was supplemented by sudden demonetization. It pushed people and businesses including small merchants to move towards online payment for both big and small ticket-size payments. Thanks to the launch of UPI (Unified Payment Interface), online payments became instant and more frequent. 

Related read: History of online payment methods- its evolution

UPI made online payments the new normal. Most merchants today accept UPI payments for both small and big amounts. However, the question remains, is UPI safe?

There has been a lot of speculation about how safe is UPI transaction. The method is new and it’s completely digital. How one can trust that their financial details are safe online? We will address these questions and more in this article. 

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How safe is it to use UPI apps for transactions?

Below-mentioned are a few points to remember when it comes to using UPI apps:

1. Enter UPI PIN ONLY to deduct money from your account. UPI PIN is NOT required for receiving money
2. Check the receiver’s name on verifying the UPI ID. Do NOT pay without verification.
3. Enter UPI PIN ONLY on the app’s UPI PIN page. Do NOT share UPI PIN with anyone.
4. Scan QR ONLY for making payment and NOT for receiving money.
5. Do not download any screen sharing or SMS forwarding apps when asked upon by any unknown person and without understanding its utility.

With Airtel UPI, you can link any bank and pay to any other UPI apps in a safe manner.

Create a UPI ID on the Airtel Thanks App

1. Install and sign into the Airtel Thanks app.
2. Navigate to the “Pay” area located in the bottom bar 
3. To begin, tap on “UPI Registration.”
4. Press “Link Bank Account” and finish the SMS verification process in just a few seconds.
5. Choose your desired bank account and connect it to your Airtel UPI ID.
6. Your Airtel UPI ID is now set up! Initiate your first transaction 

Related read: How to scan QR Code on iOS & android phones?

Security features like these keep your UPI payments safe and secure. You can also take a few precautions from your end to keep the fraudsters away. 

How to stay away from UPI-related frauds?

Follow the below tips to stay away from UPI-related frauds:

Never share your UPI PIN

The UPI PIN is used to authenticate UPI transactions. If you share this PIN with anyone, they can easily use it to empty your bank account. You must not share your PIN over the call with anyone. Fraudsters may say that it is for bank verification but beware! If you suspect a breach, reset your UPI ID immediately.

Related read: How to reset and create a new UPI PIN number?

Don’t click on any random payment link

There have been many cases of phishing scams where users end up clicking on fake payment links for receiving or sending payments. If you ever receive such a prompt, check if the payment was initiated by you. The Airtel Thanks app always reminds users to never click on random payment links unless it is initiated by themselves.

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Contact Customer Support in case of fraud

If you face any difficulties while initiating the payment via the Thanks app or suspect any fraudulent activity, then immediately contact customer support. On the Thanks app, you can use the Chat Feature or call on 121. You may also contact NPCI customer care for any UPI fraud. NPCI helpline number: 1800-120-1740 (toll free)

Keep these pointers in mind to experience the convenience of instant UPI payments and finally put rest to the question – Is UPI payment safe?

Also read: Mobile wallet concept for beginners