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Personal Finance

Five key steps to make money transactions on the UPI safe

Updated : June 04, 2019 12:27 PM IST

According to the National Payments Corporation of India (NPCI) data, the total number of UPI transactions has reached 79.95 crore in March 2019, up from 17.80 crore in March 2018 and 62.01 crore in December 2018.
There has been a growth in the total value of UPI transactions as well – Rs 1.33 lakh crore in March 2019 versus Rs 24,172 crore in March 2018. Therefore, it is important for consumers to be aware of fraudulent transactions.
Fraudsters take advantage of the ‘request money’ option on UPI apps such as Bharat Interface for Money (BHIM), Google Pay, PhonePe, etc. Imposters show interest in buying a product advertised on various online platforms and engage with the seller on a phone call.
Five key steps to make money transactions on the UPI safe
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