Worried About UPI scams? NCPI’s Top Five UPI Safety Tips
Unified Payments Interface, commonly known as UPI, has emerged as one of India's most widely used online payment systems. Developed by the National Payments Corporation of India (NPCI), UPI has revolutionized the way transactions are conducted in the country.
However, with its growing popularity, UPI has also attracted the attention of scammers who have devised various methods to defraud unsuspecting users. To combat this, the government is planning to introduce a new rule: a 4-hour delay for the first UPI transfer between two individuals if the amount exceeds Rs 2,000.
To help users protect themselves, NCPI offers these five essential safety tips for secure UPI transactions:
UPI PIN Not Required to Receive Money
Scammers often trick people into scanning a UPI code to receive money. NCPI clarifies that scanning QR codes is only for making payments, not receiving them. If someone asks you to scan a code to get money, it’s likely a scam.
Enter UPI PIN Only to Pay for Things
Another common scam involves asking victims to enter their UPI PIN to receive money. NCPI advises that a UPI PIN is solely for authorizing payments, not receiving them. Never enter your PIN to receive funds.
Check the Receiver’s Name Before Sending Money
It’s easy to overlook verifying the receiver's name before making a payment, especially in shops with multiple QR codes. Always confirm that the QR code belongs to the intended recipient to avoid misdirected payments.
Avoid Sharing UPI PINs
Scammers might ask users to download apps where they need to enter their UPI PIN to complete transactions. Always verify the authenticity of any app before entering your payment details. Use your UPI PIN only on the app’s official PIN page and never write it down elsewhere.
Don’t Download Screen-Sharing Apps
Be cautious if someone sends you links to screen-sharing or message-forwarding apps. Legitimate organizations will never ask for OTPs, confidential details, or request app installations over the phone. Scammers use these apps to steal banking information, such as login credentials and card numbers, often under the guise of offering online jobs.
However, with its growing popularity, UPI has also attracted the attention of scammers who have devised various methods to defraud unsuspecting users. To combat this, the government is planning to introduce a new rule: a 4-hour delay for the first UPI transfer between two individuals if the amount exceeds Rs 2,000.
To help users protect themselves, NCPI offers these five essential safety tips for secure UPI transactions:
UPI PIN Not Required to Receive Money
Scammers often trick people into scanning a UPI code to receive money. NCPI clarifies that scanning QR codes is only for making payments, not receiving them. If someone asks you to scan a code to get money, it’s likely a scam.
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Enter UPI PIN Only to Pay for Things
Another common scam involves asking victims to enter their UPI PIN to receive money. NCPI advises that a UPI PIN is solely for authorizing payments, not receiving them. Never enter your PIN to receive funds.
Check the Receiver’s Name Before Sending Money
It’s easy to overlook verifying the receiver's name before making a payment, especially in shops with multiple QR codes. Always confirm that the QR code belongs to the intended recipient to avoid misdirected payments.
Avoid Sharing UPI PINs
Scammers might ask users to download apps where they need to enter their UPI PIN to complete transactions. Always verify the authenticity of any app before entering your payment details. Use your UPI PIN only on the app’s official PIN page and never write it down elsewhere.
Don’t Download Screen-Sharing Apps
Be cautious if someone sends you links to screen-sharing or message-forwarding apps. Legitimate organizations will never ask for OTPs, confidential details, or request app installations over the phone. Scammers use these apps to steal banking information, such as login credentials and card numbers, often under the guise of offering online jobs.
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