Digital payments offer several advantages to common users such as convenience, speed, and security. With digital payments, people can easily make transactions from the comfort of their homes or while on the go. Digital payments also eliminate the need for carrying cash and the risk of loss or theft. Additionally, digital payments can help to promote financial inclusion by providing access to banking services for people who may not have had access to traditional banking services.
In the fast-growing digital world, fraudsters use social engineering techniques to victimize gullible users. While a considerable amount of awareness is being created to safeguard users, those falling prey are mostly on account of greed, fear or ignorance.
Mentioned below are some of the key points that users should be mindful while carrying out digital payments.
Sometimes, users may receive links or QR codes from unknown individuals, who promise rewards in exchange for entering their UPI PIN. However, it's important to remember that scanning a QR code and entering a UPI PIN is only meant for making payments, not receiving them. So, it's crucial to be careful and not fall for such schemes.