Use Google Pay, Paytm, PhonePe or other UPI apps: State Bank of India has security tips for you

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Transactions under the Unified Payments Interface (UPI) crossed the 5-billion count for the first time in a single month earlier this year. The numbers tell the success story that UPI has been in India. Today, UPI payments are used for transactions across industries — grocery, online shopping, P2P transfers and more. However, while UPI offers convenience to users it also has its risks. There have been numerous cases where users have lost money in their bank accounts due to UPI-based scams. Though UPI technology is foolproof, users become victim due to ignorance and lack of clear understanding of the system. The country’s largest bank State Bank of India (SBI) has security tips for users of UPI apps. Read on

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