5 things to keep in mind when using UPI or Net Banking to make payments

Digital payments or online payments are now the norm. With things like online banking and UPI, sending money has become the easiest and fastest ever. Now, as things have become easier and easier for us, it has also opened up many new tricks for scammers who now have newer and easier ways to defraud people online. While the fear of being duped always looms large when making online payments, there are a few things users can keep in mind to ensure they are safe and an easy target for scammers. Here are some things you can keep in mind to ensure your security when using UPI or net banking.

1. Never share your UPI PIN/Net Banking password with anyone

One of the most important things to remember is that you don’t have to share your four or six figures IPU PIN or net banking password with anyone. With UPI compatible applications, the last and last step to proceed with the payment is the PIN code, so you have to be as secret of your UPI PIN code as your ATM PIN code. The same is true with online banking. With net banking, your password and your net banking ID are the two private credentials. However, net banking ID can be bypassed with your registered mobile number on many net banking portals, so your password is the most comprehensive and you should keep it as private as possible. People often receive calls from scammers posing as bank representatives and asking for your bank card/account details including PINs, OTPs, passwords, etc. So make sure you never share this sensitive information with anyone.

2. Always check the UPI ID before sending money

It works for both sending and receiving money. When sending, it is strongly advised to double-check the recipient’s UPI ID and phone number. If you send the money to the wrong person through UPI, there’s no way to get it back, unless the recipient agrees to return it. While receiving money also, make sure to share the correct UPI ID. This will help you avoid bad transactions and send your money to someone who is not meant to get it.

3. Don’t click on unverified links

It’s a common occurrence where people get scammed just because they clicked on a link they received on their email or text message. Users are strongly discouraged from clicking any unverified or shady links they receive. These links are typically used by attackers to hack into your phone and steal your data, including banking passwords and PINs. As mentioned above, people often receive calls from scammers posing as bank representatives and asking for your bank card/account details including PIN, OTP, etc. Sometimes they even ask you to download an app or sign up through some shady link they sent you.

4. Always have adequate security on your devices

Always keep your device locked, especially if you find yourself in a new place where you don’t know many people. There are many important apps (apart from banking and payment apps) on our devices that can provide fraudsters with all the data they need without having to access your phone’s banking or payment app. For example, you don’t want the wrong people getting their hands on emails or apps like DigiLocker that contain all your important information. That’s why, it’s also very important to keep your phone securely locked at all times.

If you want to go the extra mile, many Android phones offer users the option to lock apps separately, so you can further lock your banking, payments, email, and other important apps to enjoy that extra layer of security.

5. Website Security

Sometimes buying from a new or unfamiliar website can lead to fraud. For example, you buy a rare collectible that you found after a long search, but it’s from a website you haven’t heard of. Now if it’s a scam website, chances are the “net banking” option will take you to a fake website that mimics your bank’s website and takes all your passwords and logins banks that you add to make the payment. That’s why, it’s important to make sure that any banking websites you visit are encrypted with “https” and a lock icon at the beginning of a URL. If the URL starts with “http” and not “https”, it means that the page is not secure.

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