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New Delhi: Today Unified Payment Interface ( UPI ) has made payment very easy. Now payments from Rs 1 to lakhs of rupees can be easily made through UPI. The success of UPI is being proved by the fact that from street vendors to rickshaw drivers, everyone is using UPI.
UPI transactions worth crores of rupees take place daily in India . The number of UPI users is constantly increasing. While on one hand UPI has made online payment easy, on the other hand it poses a risk of fraud.
Frauds are also happening through UPI Autopay feature. Yes, we will tell you how frauds are happening through this feature.
How does UPI Autopay fraud happen?
In UPI Autopay, you approve an unknown UPI Collect Money or Autopay request. Understand it like this that you have subscribed to an OTT platform. Now one day you will get a request for subscription payment. You make the payment, while this is a fake payment request.
In UPI Autopay, fraudsters share a fake payment request which looks like a real request. You must keep in mind that this request is real but the person generating it is a fraud. In UPI Autopay, you cannot understand the difference between a real request and a fraudulent request.
How to avoid UPI Autopay fraud
To avoid this type of fraud, you should try not to link your bank account directly to your UPI ID. To avoid UPI fraud, use your wallet more so that you can avoid big frauds.
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