UPI

UPI (Unified Payments Interface) lets you send money from your bank account to another account instantly using a phone app and a PIN.

UPI: UPI stands for Unified Payments Interface. It is an instant payment system run by NPCI. You link your bank account to an app, then pay or receive money using a UPI ID, phone number or QR code. Every payment you send is approved with your UPI PIN.

In India, UPI is used for everything from chai stalls and vegetable vendors to rent and school fees. You open an app such as PhonePe, Google Pay, Paytm or your bank's own app, scan a QR code or type a UPI ID, enter the amount and approve with your PIN. The money moves in seconds, at any hour, including holidays.

Because the money moves so fast and cannot easily be pulled back, scammers love UPI. They trick people into approving a payment while believing they are receiving one. Remember the basic rule: a PIN is needed only to send money, never to receive it. If anyone asks you to enter your PIN to get money, stop. Also keep your phone and the UPI app protected with a screen lock, so a stranger cannot try payments.

Tips

• Read the screen before entering your PIN: it must say you are paying, and show the right name and amount.
• Set a daily limit in your UPI app so a mistake or a fraud cannot empty the account.
• Report fraud quickly on 1930 and at cybercrime.gov.in, because early reports give the bank a better chance to hold the money.

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