Are you using Google Pay (
Because Rewarding is the current successful marketing strategy what makes us a prey to them without knowing what it is. Even, the success rate is higher than advertising in the media. Likewise, since all these apps are rewarding us for every payment transactions and recharge, we are missed to know about UPI and its safety precautions.
is UPI payment and virtual payment address:
The full form of UPI is Unified Payment Interface. This is a new payment transacting mode in India like NEFT and IMPS. You can send money in a fraction of seconds using this mode. Even more, you do not need to use your bank apps to send money to your recipient which is the success of this payment mode.
Apps like Google Pay, PhonePe are the medium that facilitates UPI transaction on your bank accounts.
What is the use of UPI:
Unlike the other payment mode, UPI enables you to transfer money between banks without entering the bank account. You do not need to install banking apps or use net banking to transfer money. Any UPI enabled apps can let you transfer money.
Moreover, your mobile number or virtual payment address is a mask for your bank account. Therefore, anyone can send money to you by simply entering your mobile number.
Then why should you more careful about creating UPI PIN? Below is the answer for you.
Things should be considered on creating UPI PIN:
This transaction method is based on the PIN number you generated and no further second level verification asked from the bank side. Therefore, creating the UPI PIN by using common terms will let other to predict and transact money if they have your mobile phone in their hand. Below are the terms which are commonly using as a PIN code. In case you also follow the below terminology, please change it immediately.
- Phone number: Do not use your mobile phone number as your Personal Identification Number. Because this is highly predictable since most of the users are creating it with the first or last four digits of the mobile phone number.
- Date of Birth: Do not create PIN numbers using your personal or family members date of birth. You might think that how a stranger knows your personal details? But the fact is all your social media profiles reveals all about you. Therefore, avoid using DOB as your PIN.
- Common terms: Avoid using most common terms like 1111, 0000, and 1234.
- Note taking on the mobile phone: If a user has access to your mobile phone and also will have access to all your mobile apps. Therefore, do not note down your PIN numbers in Note taking apps Google Keep and in SMS or contacts.
- Encrypt your SIM card with PIN.
Below are the most commonly asking questions regarding UPI:
Definitely, you can go with UPI fund transaction and it is safer to use if you follow the
No. UPI is purely mobile number oriented and can be used only on mobile phone.
It generates OTP while registering on a mobile phone. Therefore, without your mobile
No, you do not need. You can also transfer fund using the mobile USSD code *99#.
Follow these easy guidelines while creating the UPI PIN code and avail the full benefits of this fund transaction mode.