UPI Payments Scam: Along with creating UPI payment, NPCI has also made some important changes in the UPI Lite version to make it more convenient. Know what are the changes that will curb UPI fraud

End Of UPI Scams: Online payments through UPI have made our lives very easy, but along with this it has also increased the risk of online scams. Thousands of people have lost their hard-earned money by falling into the trap of payment requests sent by scammers. Now to curb this, the National Payments Corporation of India (NPCI) has taken a big step. From October 1, sending payment requests on apps like Google Pay and PhonePe will stop, which will stop such fraud.

How does payment request fraud work?

Nowadays, on UPI apps, instead of sending money to another person, a person can send a request for money. Scammers take advantage of this feature. Instead of sending money to people, they used to send requests for money. Many people, in a hurry or in confusion, mistook this request as a notification of receiving money and approved it without paying attention, due to which money was deducted from their account. Such scams were also quite common on online shopping websites like OLX, where fraudsters disguised as sellers used to dupe customers by sending payment requests.

Big changes have also happened in UPI Lite

Along with making UPI payments safe, NPCI has also made some important changes in the UPI Lite version to make it more convenient. Let us tell you that UPI Lite works like a prepaid wallet, which is built directly into the UPI infrastructure.

Increased limit: Earlier, you could put a maximum of ₹2,000 in this wallet, which has now been increased to ₹5,000.

Single Payment Limit: The single payment limit has also been increased from ₹500 to ₹1,000.

Auto top-up: Now you can also set up auto top-up feature in UPI Lite. This will automatically top up your wallet whenever the amount falls below a certain limit, and you will not need to add money manually again and again.

All these changes being made by NPCI are an important step towards making UPI safer and better.

PC:MoneyControl