Using UPI Apps? Here are 6 Safety Tips | AU Small Finance Bank
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Is It Safe to Use UPI Payment Apps for Money Transactions

    Today’s highly connected customers want to do things as quickly and easily as possible, so why should payments be left behind? The Unified Payment Interface or UPI enables customers to make instant online payments. Off late, online payments through UPI have grown remarkably as it eliminates the need to carry cash, plus it is fast & easy to use. To carry out a transaction online, you simply have to open a UPI-enabled App and make payment via QR code, UPI ID, contacts, & others.

    Customers prefer making a payment via UPI for small and big purchases. So, is it safe to use a UPI Payment App for money transactions? Let’s get to know in detail.

     

    How do UPI Payment Apps work?

    Even before UPI came into existence, merchants accepted online payments via Credit Cards or Debit Cards. But with the popularity of UPI Payment Apps, people are able to pay instantly or transfer funds.

    To use the UPI feature, you have to download a UPI Payment App and link your bank account. Once the registration is complete, you can use the application for daily transactions. For instance, AU Small Finance Bank offers UPI features on apps like AU 0101 App and BHIM AU App. Using this feature, you can buy/sell goods and services, do real-time transfers, add beneficiaries, and much more.

    A UPI Payment App works in the following ways:

    • Scanning the QR code: To use this feature, the sender should scan the QR code given by the receiver and enter the amount. Once you confirm the payment details, the sender is required to enter the UPI PIN to complete the payment
    • Entering the UPI ID or Virtual Payment Address (VPA): UPI ID is the same as VPA. You can pay via UPI ID, which requires you to enter the UPI of the payee and enter the amount. Confirm the details of the payee and enter the UPI PIN
    • Selecting a contact/mobile number: If the payee or the receiver’s contact number is already stored in your mobile phone or not, you can still send money via the UPI App. For this, you need to select the contact person’s name or manually enter the mobile number, enter the amount, and proceed with UPI PIN to finish the payment
    • Entering the account number and IFSC details: The traditional way of sending money is also supported by the UPI Payment Apps. You need to enter the IFSC of the receiver, enter the amount to be paid and provide your PIN
     

    Is it Safe to Use UPI Payment Apps for Money Transactions?

    Yes. It is completely safe to use UPI Payment Apps for daily money transactions. Moreover, money transfers or payments done via UPI do not involve charges.

     

    UPI Safety Tips:

    Money transactions via UPI Payment App are completely safe; however, you still need to be careful when using any UPI Payment App. So, here are some UPI safety tips to remember:

    1. Verify UPI ID: Always verify the UPI ID of the receiver before approving a money transaction via UPI Payment App. If you are wondering is sharing UPI ID safe? You can share UPI ID for making a payment online.

    1. Keep your screen locked: It is advisable to keep your smartphone locked while you are away. Even when you are done using the UPI App, make sure you lock the phone’s screen to reduce the chance of fraud.

    1. Don’t share UPI PIN: Sharing UPI PIN is equal to money debit. UPI PIN is one of the ways to approve or authenticate a transaction, so be cautious & never share your UPI PIN.

    1. Do not fall prey to Scammers: Scammers send a link and request you to click on the URL to gain rewards. They also request you provide your UPI PIN. The moment you enter the PIN, the money gets debited, and it is transferred to the scammer’s account. You should avoid clicking on any suspicious links.

    1. Keep the UPI app updated: An updated UPI Payment App ensures that money can be transferred without any technical issues.

    1. Prefer UPI ID over mobile number: It is always better to send money via UPI ID or scan a QR code because there are chances of entering the wrong mobile number, and the money may get transferred to the wrong person.

     

    Key Takeaways:

    • Although UPI Payment Apps have made our lives easier, it is every individual’s responsibility to stay alert while doing money transactions
    • Make sure you do not respond to any unverified links or individuals asking for CVV, OTP, UPI PIN, etc., to ensure the optimum safety of the app

    Download AU 0101 App or BHIM AU App for secured UPI payments.


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