Hyderabad (Telangana) : There are many advantages with digital payments. No need to carry currency notes. We can pay any amount, small or big, digitally these days as shopkeepers from hawkers, everybody is accepting this. At the same time, cyber criminals are also on the prowl and they are well-equipped. They get personal data, send messages on social media and trap gullible people.
Statistics make it clear that the rate of digital fraud has now increased to about 28 percent as compared to earlier. Despite this, digital payments have now become inevitable in a fast-paced world. So, it is imperative to be careful with them. There are many digital payment apps available. To use these apps we need to inform our bank account and card details.
So, start using the app only after knowing twice that it is reliable. We should use apps that keep our financial information safe. This will check fraudulent transactions. To know the extent to which the app you are using uses your information, read the terms and conditions carefully.
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Now-a-days free Wi-Fi facility is available in many places. You can try to use it for other purposes. But, do not use this facility under any circumstances while using banking or UPI apps for financial transactions. Tech experts warn that many cyber criminals use free Wi-Fi networks to hack mobile phones. Set up a two-step security system to use payment apps on your mobile phone. Different passwords should be used to launch the app and perform transactions. Biometric should also be used.
Many people choose simple passwords for digital transactions. This is not correct under any circumstances. When making payments with digital payment apps, a four or six-digit PIN is required. Do not tell anyone about this under any circumstances. Many people choose a password like 1234. It is not safe at all. Password should be changed regularly for better protection.
There are QR codes to make payments in shops. One can scan the codes there and make payments in moments. Sometimes fraudulent QR codes can also be there. If we scan without knowing, all the information on our phone will reach the cyber criminals. So, double check which code is being scanned. Ask the shopkeeper for details. Only then complete the transaction.
Digital payments are now a part of life. Ensure safety in these transactions by taking all precautions. Tata AIA Life Insurance has made UPI (Unified Payment Interface) based payment available to policyholders to facilitate premium payment. Apart from this, payments can also be made through WhatsApp. The company disclosed that this will enable the policy holders to pay the premium easily. It said that their aim is to make policy renewal easier and UPI based payments will help for this. Information related to policies is also provided in Telugu.
