Unified Payments Interface (UPI) has revolutionised digital payments in India, making transactions seamless and instant. However, with its widespread adoption, scammers have also devised ways to exploit users. Securing your UPI transactions is crucial to avoiding fraud and ensuring safe digital payments. In this guide, we will discuss various security measures and settings available in Paytm, Google Pay, and PhonePe to help you stay protected from scams.
Common UPI Scams to Watch Out For
Before diving into security settings, it is essential to be aware of the common UPI fraud techniques:
- Phishing Scams: Fraudsters send fake links to trick users into entering their UPI credentials.
- Fake Payment Requests: Scammers send requests pretending to be refunds or winnings.
- Screen Sharing Fraud: Some fraudsters convince users to share their phone screens via apps like AnyDesk, capturing sensitive details.
- QR Code Scams: Users are tricked into scanning QR codes, which instead of receiving money, actually make payments.
- SIM Swap Scam: Fraudsters obtain a duplicate SIM to access OTPs for UPI transactions.
- Malware and Spyware Attacks: Cybercriminals can install malicious software on devices to steal banking credentials.
- Social Engineering Scams: Fraudsters pose as bank officials, asking for OTPs or PINs over the phone.
Understanding these threats is the first step in securing your transactions. Now, let’s explore how you can protect yourself using built-in security features of UPI apps.
How to Stay Safe While Using UPI Apps
Each UPI app provides security settings to protect users from fraud. Below are step-by-step guides to enhance your safety on Paytm, Google Pay, and PhonePe.
Securing Paytm
Paytm offers multiple security settings to protect your account from unauthorised access and fraudulent transactions.
1. Enable App Lock
- Go to phone settings.
- Search and choose App Lock.
- Go to Paytm.
- Toggle on the app lock for Paytm.
- You will now need to use fingerprint or PIN to open the app.
2. Disable Auto-Pay
- Navigate to UPI & Payment Settings within the Paytm app.
- Disable Automatic Payments for subscriptions if you do not require recurring payments.
3. Manage Linked Accounts and Devices
- Check Linked Devices in security settings and remove any unauthorised device.
- Keep an eye on Bank Accounts Linked to Paytm and remove any account that you do not use.
- Set transaction limits to restrict large payments.
4. Avoid Clicking on Suspicious Links
- Paytm never asks for UPI PIN outside the app.
- Do not enter details on any link received via SMS, WhatsApp, or email.
- Enable Spam Detection to filter fraudulent messages.
Securing Google Pay
Google Pay provides robust security features to prevent fraudulent transactions.
1. Enable App Lock
- Go to phone settings.
- Search and choose App Lock.
- Go to Google Pay.
- Toggle on the app lock for Google Pay.
- You will now need to use fingerprint or PIN to open the app.
2. Turn on Two-Step Verification for Google Account
Since Google Pay is linked to your Google account, enabling two-step verification adds an extra layer of security.
- Go to myaccount.google.com/security.
- Under Signing in to Google, select 2-Step Verification and follow the setup process.
3. Block Unverified Requests
- Open Google Pay and go to Settings.
- Under Privacy Settings, turn on Only allow people with your phone number to request money.
- Enable alerts for Suspicious Transactions.
- Set up email and SMS alerts for large transactions.
4. Be Cautious of QR Codes and Requests
- Google Pay does not require you to scan a QR code for receiving money.
- Reject unknown payment requests and verify sender details before accepting.
- Enable Google Play Protect to detect fraudulent apps that might compromise your security.
Securing PhonePe
PhonePe also provides various security options to keep your transactions safe.
1. Enable App Lock
- Go to phone settings.
- Search and choose App Lock.
- Go to Paytm.
- Toggle on the app lock for Paytm.
- You will now need to use fingerprint or PIN to open the app.
2. Review Transaction Limits and Auto-Debits
- Go to Bank Accounts in PhonePe settings.
- Set transaction limits to prevent high-value unauthorised transactions.
- Disable Auto-Debit for services you do not use frequently.
- Turn on notifications for all transactions to get real-time updates.
3. Restrict Who Can Request Money from You
- Open Privacy Settings in the app.
- Enable Allow only known contacts to send requests.
- Block users who send suspicious payment requests.
- Use Fraud Prevention Alerts to detect unusual activity.
4. Monitor Linked Devices and Logout from Old Devices
- Visit Security Settings in PhonePe.
- Check the list of devices with active sessions and remove any unrecognised devices.
- Log out of PhonePe if you change your device.
- Enable SIM Binding to restrict transactions to your registered SIM card only.
Additional Tips for UPI Safety
Regardless of the app you use, follow these general security practices:
- Never share your UPI PIN with anyone.
- Verify payment requests before accepting them.
- Use different UPI IDs for different purposes, such as personal and business transactions.
- Check bank SMS notifications regularly to spot unauthorised transactions.
- Report fraud immediately to your bank and the National Cyber Crime Portal (www.cybercrime.gov.in).
- Enable SIM lock and restrict SIM swapping by contacting your mobile provider.
- Use updated antivirus software to detect potential threats.
- Avoid using public Wi-Fi for transactions, as hackers can intercept your data.
- Disable NFC and Bluetooth when not in use to prevent unauthorised access.
- Set daily transaction limits to reduce exposure in case of fraud.
- Enable auto-logout on your UPI apps after inactivity.
With the increasing use of UPI transactions, safeguarding your account from scams is more critical than ever. By enabling security settings in Paytm, Google Pay, and PhonePe, you can ensure a safer transaction experience.
