With the rise of internet usage, most people now make digital payments. However, in the last six months, there have been about Rs 485 crore in fraud cases involving UPI.
With the rise of the internet and UPI, related scams are also increasing in India. UPI merchants can take the following steps to protect themselves and safeguard their hard-earned money.
UPI is a payment system, used through payment apps like Paytm, PhonePe, and Google Pay, where a person has to link their bank account to send or receive payments instantly. However, UPI Wallet will not be linked to any bank account.
The agreement will enable users of both systems to conduct instant, cost-effective fund transfers between India and Nepal.
Mumbai woman successfully prevents UPI scam by recognising red flags and staying vigilant during a suspicious call. Here's all you need to know.
At present, a user can send up to Rs 5,000 within a 24-hour period after creating a new UPI account. Once the account is activated, NEFT users have the flexibility to transact a maximum amount of Rs 50,000 within the span of 24 hours, whether in a single transaction or through multiple instalments.
Top News
Latest News
