Indians now pay for daily services in real time thanks to the Unified Payments Interface (UPI). UPI, which was introduced in 2016, has grown in popularity because of the speedy money transfers and added security it provides. The National Payments Corporation of India (NPCI) has revealed data showing that UPI transactions increased dramatically to Rs 10.7 trillion in August.

Users must be cautious and certain while making payments in the digital age, because completing a transaction only takes a single click. Financial fraud has increased as a result of online transactions. As a result, you must use caution to safeguard your account. The largest lender in the nation, State Bank of India, has provided the following advice and tips for using or carrying out UPI transactions:

1. When receiving money from anyone, you do not need to enter your UPI PIN. If you ever receive a call or message requesting for your UPI PIN, just ignore it.

2. You must confirm the recipient's identity before sending them money. This is done to make sure the recipient of the funds is someone you know or is coming from a legitimate government source rather than a fraudulent account.

3. Refuse any arbitrary or unidentified requests for money. When a user wants to request money, fraudsters will occasionally utilise the UPI app's 'collect request' option. People frequently react to the request under the impression that they will receive money, but they really send the enormous sum to the scammer.

4. The UPI PIN is a confidential code that must not be disclosed to anyone. PIN is actually a security code that makes sure the legitimate account owner is carrying out the outgoing transaction. Only when sending money to someone is it used.

5. You can use UPI apps to make payments by scanning the QR code that has been provided by the retailer, store, or even an individual. The name of the recipient is displayed on the screen when you scan a QR code. Before sending money, make sure to verify the recipient's information.

6. It is advised that you practise to regularly change your UPI pin, just like you would with ATM pins. In the event that you unintentionally shared the pin with someone, this also protects you against fraud.

In order to make money transfers completely cashless and paperless, the National Payments Corporation of India created the Unified Payments Interface (UPI), a real-time instant payment system. By enabling transactions to be completed with a single click, UPI has propelled India into the digital age.

However, convenience also brings with it obligations. Although UPI transactions are simple to use, a little negligence might result in problems. Therefore, you should always be vigilant in order to protect yourself from cybercrimes, frauds, and scams involving UPI transactions.