Hyderabad: With the advent of the Unified Payments Interface (UPI) the nature of payments has changed completely. At the same time, you should be very careful as there is a risk of your account being hacked. For those who want to transfer money--all you have to do is have a phone number or UPI ID linked to bank accounts-- this easily transfers money from your account to other accounts via UPI within minutes. In the same way, you can transfer money to others.
It is important to note here that even if a small mistake is made while entering the UPI ID, there is a possibility that the cash will go into someone else's account. Therefore, when transferring cash to a person for the first time, one has to transfer Rs 1 instead of a lump sum. Necessary cash can be transferred only after knowing that it is a valid account.
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We make payments with QR codes when making any purchases. As soon as the QR code is scanned through the UPI app ... the details of the shopkeeper will come. First, you need to make sure that the details are correct. QR codes are pasted on the walls at stores. There have been cases in recent times where some fraudsters have attached false QR codes to these. They were instances where customers have been deceived after a cash transfer. Details should be checked in advance to avoid such things.
Your UPI based app will have a four or six-digit PIN. Based on this you need to authorise the transactions. Do not tell this PIN to anyone under any circumstances. You need to create a special PIN or fingerprint to open the app. Do not forget one thing here .. PIN is required only when you want to pay. It does not work to receive payments.
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Now there are many UPI apps available and banks are also offering these while all UPI transactions are free. There is no extra benefit to you beyond one or two apps. Except unnecessarily giving your details to various apps. Those who have one UPI app will find it difficult to pay through another UPI app. But, they can scan the QR code in their UPI app and pay from any app. So, remove the apps that you do not use much from your phone. Notice the short messages from the bank after you have completed the payment. Any discrepancy in the transaction should be brought to the attention of the bank.
