The State Bank of India (SBI) has listed a number of online payment tips which can be used while making payments. Know that these UPI PIN tips are of crucial importance.
Online payment has accelerated not only in India but all over the world due to the coronavirus pandemic and the need to maintain social distancing in every way possible. There are several mobile apps that have simplified the online payment process. Some of these online payment apps are Google Pay, Paytm, PhonePe, among others. Online banking applications can also be used for this purpose. From payments to recharges to purchases, many services can be used using applications based on the Unified Payment Interface (UPI). Unfortunately, with almost everything happening online, digital fraud has also increased. With that in mind, here we list a number of online payment tips that will save you money. UPI PIN tips are of particular importance.
It is very important to take security precautions when paying online. Banks have been constantly posting and educating people about the steps they can keep in mind to protect themselves from online fraud. Falling prey to these scams can lead to huge financial losses. Recently, the State Bank of India (SBI) revealed some measures to its customers which can be used to avoid online fraud. SBI said people only need to enter the UPI PIN when making an online payment.
Speaking to its official Twitter account, SBI tweeted, “You must enter UPI PIN only when sending money. Remember security tips whenever making UPI payments.”
What is UPI
According to National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) is a system that feeds multiple bank accounts into a single mobile application (from any participating bank), merging multiple banking features, seamless funds routing and merchant payments in a single cap.
Here are some of the tips provided by the bank to avoid online fraud.