Google Pay Dos and Don’ts to keep fraudsters away in 2022

• In India, Google Pay uses the unified payments interface (UPI) to allow you to send and receive money.
• With the spurt in digital payments, India is also witnessing a rise in fraudulent transactions.
• Here are some dos and don’ts which you can follow to avoid becoming a victim of fraud on Google Pay.

Google Pay is one of the most used payment apps in India. The California-based search giant introduced a UPI-based payment system in India back in 2017 as ‘Tez’, which was rebranded to ‘Google Pay’ a year later.
Google Pay is a key player in the digital payments space which offers enhanced fraud protections. The digital payment platform uses machine learning algorithms to prevent scams and displays an explicit warning if a user receives a payment request from a fraudster or someone who is not in the contacts list of the user.
Besides this, the app uses screen lock, PIN, fingerprint, or password that you use to lock your phone.
According to a PwC report, Indian digital payments witnessed a compounded annual growth rate (CAGR) of 23% and it is expected to increase to 217 billion (21,700 crore) transactions by FY26. The report also states that the UPI payments will likely continue to dominate the digital payments space.
Amid the growing uptake of digital payments and increased preference for UPI payments especially after the Covid-19 pandemic, there are growing concerns about online fraud.

Here are some dos and don’ts that you should follow to avert fraud on Google Pay.

• Remember, your UPI PIN is only used while sending money and checking your balance. Receiving payments needs no UPI PIN. In case someone asks you to enter your PIN when receiving money, it means you are approving an outward payment meaning you are making payment from your bank account.
• Never share the OTP that you receive while logging into your Google Pay account.
• Don’t use Google Pay if you are using screen-sharing apps.
• While transferring the funds make sure you are aware of the receiver’s identity.
• Keep your UPI PIN secret similar to your ATM PIN.
• Be cautious of sharing your UPI PIN on websites or forms sent to you via a link.
• To make Google Pay more secure, use Google PIN. You can use your existing screen lock to secure Google Pay.

What to do if you are a victim of a fraudulent transaction?

Whenever you are a victim of fraudulent transactions, instantly report it to your bank and the government’s Cyber Cell. Also, you can reach out to the cybercrime police department in your local jurisdiction.
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