Unified Payment Interface (UPI)

UPI is most popular means of digital payment in current digital times. UPI is a type of interoperable payment system through which any customer holding any bank account can send and receive money through a UPI-based app. The service allows a user to link more than one bank account on a UPI app on their smart phone to seamlessly initiate fund transfers and make collect requests on a 24/7 basis and on all 365 days a year.

1. Phishing Scam
2. QR Code scam
3. Malicious Apps
4. Deceptive UPI handles
5. Social engineering techniques

• Beware of Mobile phishing: always download legitimate UPI applications from bank’s official website, and be cautious before you download it from App store.
• Keep strong passwords for your phone as well as for your UPI application.
• Do not share MPIN with anybody (not even with bank), and be suspicious of unknown callers claiming to be from your bank.
• Use biometric authentication if possible.
• Update your mobile OS and applications as often as possible to be secure from vulnerabilities.