Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions.
Unified Payments Interface is a real-time interbank payment system that allows sending or requesting money. Any UPI client app may be used with multiple bank accounts linked to a single app. Money can be sent or requested through different payment wallets or bank accounts.
- Be mindful that a transaction which requires you to enter a PIN is for sending money. Remember, receiving money requires no PIN. If you receive a payment request from someone whom you don’t know or cannot immediately identify, then you should immediately decline the request.
- Double check the barcode and the message notification in case of UPI transfers for acceptance to transfer money. This acceptance leads deduction of amount from your own account and not the Buyers. You must decline the same.
- Monitor the bank account actively and check & report for unusual activity.
- Track all the messages and notification you received from the bank or wallet providers.
- Never open any link on Whatsapp or emails without checking its authenticity.
- Do not enter your PIN when you are receiving a payment.
- Do not share any sensitive details with anyone and be alert and pay attention to details while doing transactions.
- Don't engage with the fraudster on a call and be aware of the action or the demand raised by the fraudster; their intention may be to distract you in accepting the request for money transfer.
Different arrow directions for paying & receiving payments through UPI.
If we are paying someone then the UPI transfer page will show you forward arrow, however, if we have to receive the payment then it will show a backward arrow.
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