PhonePe and Google Pay can be fraud? Users should pay attention otherwise they will bear the loss – kyc fraud not possible in upi payments says npci
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NPCI quoted a post on its Twitter handle as saying that the information about KYC details being leaked during UPI transactions is completely false. No bank shares KYC details with platforms that use UPI Paymate, such as PhonePe and Google Pay. In such a situation, there is no possibility of any kind of fraud due to KYC leak. A virtual payment address is used for UPI payment, which is called UPI ID. This process is completely secure with the help of UPI PIN and device. In this way, the KYC details of the sender cannot be leaked under any circumstances during the UPI transaction.
Be careful during UPI transactions
Users should not share their personal information like OTP PIN with anyone during UPI transactions.
Also, users should not share the UPI phone PIN with anyone.
Apart from this, the UPI PIN should not be disclosed to any person. Otherwise you may have to bear the loss.
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