When was the closing time you certainly paid in cash? Nowadays, it’s all about scanning a QR code and expecting the transaction to be triumphant. It’s 2024! The era of digitalization has taken over, and digital payments are on the upward thrust with every day passing by means of. Especially after the COVID-19 outbreak, these bills have witnessed a considerable upsurge.
Its comfort, speed, and liquidity have made it the go-to platform for the entirety from splitting payments with buddies to paying online merchants. However, a latest addition is the linking of credit playing cards to UPI as UPI Payments Using Credit Cards has opened up a brand new international of opportunities.
What are UPI payments? Tips and Tricks for Safe UPI Payments with Credit Cards
UPI, short for Unified Payments Interface, is India’s instant mobile payment system. Launched around eight years back in 2016, it lets you transfer money between bank accounts on your internet-enabled smartphone.
1. Ensure to double-check recipient details
This is quite important. Before finally confirming any UPI payment, ensure that the recipient’s name and mobile number (or UPI ID) are verified. Don’t rely solely on SMS previews, as it can dupe anyone easily.
2. Keep it safe and secure
Always use a strong and unique UPI PIN that you don’t share with anyone. With the advancement in technology, you can even use additional security features offered by your UPI application, like fingerprint lock or facial recognition.
3. Avoid public Wi-Fi at all costs
Public networks are where most scams take place as they are hotspots for snooping. Therefore, avoid making even a small UPI payment via these networks, especially with your credit card. Stick to your mobile data network or a trusted, private Wi-Fi connection for safe and secure transactions.
4. Monitor Transactions Regularly
Keep an eye on your bank account and credit card statements regularly. With this, you could be easily able to identify any unauthorized or suspicious activity. If, by any chance, you come across something wrong, immediately report it to your financial transaction.
Essential tips for secure UPI payments
● Download only official applications
Only use UPI applications from trusted resources like Google Play Store or App Store. Remember that downloading from unofficial sources can expose you to fraud or scams.
● Use secured connection
Avoid using public Wi-Fi networks at all costs for UPI transactions. Public Wi-Fi is unencrypted, making it easier for hackers to intercept data.
● Two-Factor Authentication
Enable this factor for your UPI payment app and credit card transactions. This adds an extra layer of security simply by requiring a one-time password (OTP) sent to your mobile number.
Best app for UPI payment
One of the best payment applications in the current times is ‘Bajaj Finserv’. It is undoubtedly one of the easiest and most convenient platforms to use and has become a one-stop solution for financial usage.
From recharges to availing loan facilities to even day-to-day payments, you name it, this application has it. Highly recommended!
Conclusion
There is no doubt in the fact that our payment habits have changed ever since UPI entered the scene and it has only made things more easier and integrated. With UPI Payments Using Credit Cards, the habit of using a physical credit card is also slowly fading away.