Stories
7 Essential Facts to Keep Your UPI Payments Safe and Secure
- •Your UPI PIN is strictly for sending money and never required to receive payments in your account.
- •Scanning a QR code always debits your account, so never scan codes sent by strangers claiming to offer cashback.
- •Verify the registered payee name on your app before authorizing any payment to avoid fake QR code scams.
- •Understand your transaction limits, which include a standard daily cap of Rs 1 lakh and a Rs 5,000 limit for new registrations within the first 24 hours.
- •Report unauthorized transactions immediately to the cybercrime helpline 1930 or cybercrime.gov.in within three working days to potentially limit your liability to zero.
Key Questions Answered
No, standard users will not pay any extra charges. Merchants will pay a 0.4 percent merchant discount rate (MDR) on UPI payments above Rs 2,000, but they cannot pass this fee on to you. Peer-to-peer transfers and small merchant payments remain free.
You should immediately contact the cybercrime helpline at 1930, file a complaint on cybercrime.gov.in, notify your bank, and raise a dispute in your UPI app. Reporting unauthorized transactions within three working days can reduce your liability to zero if the bank or a third party is at fault.
The standard UPI spending cap is set at Rs 1 lakh per day, with many banks also restricting users to around 20 daily transactions. Payments for loan EMIs, insurance, travel, and government dues can extend up to Rs 5 lakh per transaction. First-time users or those switching to a new phone have a restricted limit of Rs 5,000 for the initial 24 hours.
