UPI: At present everyone in the country has started using UPI and its trend has also increased. It is easy to transact with UPI and now people do not need to keep cash. Also they can carry any card with them.
But in today time you should keep a few things in mind while making a payment from UPI. In such a situation you should take special care of two things while doing online transactions otherwise there can be a big loss.
Online fraud
As the Internet is reaching more and more people in the digital era the number of online frauds is also increasing. Scammers can also cause you financial loss through online fraud. At present online frauds are on the rise and people are opting for online payments instead of traditional payment systems. During this time people bank accounts are also completely emptied through online fraud.
More and more people are falling victim to identity theft phishing scams and database breaches. Safe software is also being used to avoid all such dangers and it costs a lot more. So if you want to avoid online fraud do not share your UPI PIN with anyone and also do not click on any link of an unknown website. Also do not make any suspicious transactions at the behest of an unknown person.
Dependence on the smartphone
To transact through UPI a user needs to have both a smartphone and the internet. But people who do not have both smartphone and internet are also falling victim to it. Apart from this if someone smartphone is lost or damaged he may have trouble using UPI accounts and making transactions. Therefore the dependence on smartphones is increasing.
