How to secure your UPI transactions?
Riya is a faculty member in a prominent arts college. One afternoon she received a notification that ₹500 had been credited to her UPI account from an unknown number. Shortly after that, she got a call from someone claiming to be from her bank, stating that the money was sent by an error and urging her to return ₹5,000 to rectify it. Remembering best practices for secure UPI usage, Riya contacted her bank's customer service, who confirmed it was a misstep to act without verifying. This experience highlights the importance of staying informed and vigilant.
It is essential to adopt best practices to ensure the safety of your UPI transactions. A few proactive steps can go a long way in safeguarding your UPI payments. We have listed below the important tips that you can follow to ensure a hassle-free experience.
Use strong and unique UPI PINs
Your UPI PIN is your first line of defense. Choose a PIN that is unique and avoid using predictable combinations like your birth year, phone number, or repetitive digits. Change your PIN periodically to add an extra layer of security.
Verify Recipient Details
Before completing a transaction, double-check the recipient's details. Confirm the recipient's name and ensure it matches the intended account before proceeding with the transaction. Taking a moment to verify can prevent errors and ensure your payment reaches the right person.
Secure your device
Your phone is the gateway to your UPI transactions. Protect it with a strong passcode, fingerprint, or facial recognition. Additionally, avoid downloading apps from untrusted sources and regularly update your UPI app to benefit from the latest security patches.
Enable Transaction Alerts
Most banks and UPI service providers offer real-time transaction alerts. These notifications can help you keep track of all incoming and outgoing payments. Immediately report any suspicious transaction that you did not authorize to your bank or UPI provider.
Beware of phishing
Ignore and block fake emails, messages, or calls claiming to be from your bank, asking you to verify your account or provide your UPI PIN. Always double-check the authenticity of messages and never click on suspicious links. Official banks or UPI service providers will never ask you for sensitive information via SMS or email.
Activate Two-Factor Authentication (2FA)
Enabling 2FA adds an additional layer of security to your UPI account. This requires you to verify transactions with a second method, such as an OTP or a biometric scan, ensuring only you can authorize payments.
Avoid Public Wi-Fi for Transactions
Public Wi-Fi networks are often less secure and can expose your data to unauthorized access. Whenever possible, use a private and secure internet connection for UPI transactions. If you must use public Wi-Fi, ensure the network is encrypted and avoid sensitive activities.
Do Not Share UPI Credentials
Never share your UPI ID, PIN, or OTP with anyone - even if someone claims to be a bank official or a customer service representative. Legitimate organizations will never ask for your UPI credentials over the phone or via email.
Protecting your UPI transactions is all about cultivating a few simple yet highly effective habits. Stay vigilant and make the most of the features available on your TimePay app.