A phone is now used less to make calls and more used to make payments for various reasons. With several payment apps being launched in the market, people prefer carrying little or no cash at all in their wallets. But while it is convenient, it is important to use these apps very carefully.
Ambarish Kenghe, director - product management, Google Pay gives us tips and tricks on making secure payments on the app.
Kenghe explains that Google Pay is not a wallet but it enables digital payments via the Unified Payments Interface platforms operated by National Payments Corporation of India (NPCI), which helps users transfer money directly from their bank account to that of the recipient. “While wallets hold a certain amount of the user’s money, with UPI, the transaction happens directly from one bank account to another,” he says.
Kenghe believes that using a digital payment app is more beneficial than actually paying in cash. Digital payments offer instantaneous payments from anywhere, at any time, without the need to carry cash. “All you need is your smartphone and no need to worry about carrying excess cash around. Even the payments are secure, and PIN protected,” he adds.
He points out that digital payments also remove the hassle of finding change. “The best part is that paying directly from your bank account also helps maintain a full record of your spending, something which is difficult to track when you’re spending in cash,” Kenghe adds. Since the app can be used to make payments as small as Re 1 or as large as Rs 1 lakh, it is a good option even for payments like rent and salaries.
Talking about the features that make Google Pay a safe payment option, Kenghe lists the following points:
Enhanced fraud protections with SafetyNet: Beyond the ‘one device - one account’ protections offered by UPI, Google Pay has secured advanced fraud models and is backed by Google’s authentication platform, ensuring world class protections against fraud attacks and faster identification and suspension of fraudsters.
Secure access: The PIN entry screens have been secured against remote desktop attacks since the early days of app’s launch.
Blocking fraudsters from getting on to Google Pay: If someone has been identified as a risk, Google Pay checks prevent them from re-creating their accounts.
Spam protections: The app uses machine learning-based spam prevention models, and displays explicit warnings if a user receives a request from someone suspicious or not in their contacts.
Explicit language and prominent warnings during collect requests: Collect requests as a flow are unique to UPI and thus might be new to several users. For this reason, Google Pay displays very clear and prominent warnings to the user about what it entails at each step.
Notifications and SMS alerts: Google Pay will now send app notifications as well as SMS to inform users each time they receive a collect request to highlight that approving the request will deduct money from the users’ bank accounts.
But with the growing popularity of digital payment apps, and less familiarity with improved security measures; many unsuspecting users fall prey to online perpetrators.
Here are some things to remember while paying online:
Your UPI PIN needs to be kept private. This code is only for your use, to securely access your UPI-linked bank account, via Google Pay. The same applies to your phone PIN.
Google Pay customer care representatives will never ask for your PIN or ask you to authorise a money transfer, while troubleshooting. If anyone contacts you with such a request, always decline.
UPI places incredible power in the hands of the user and money can only leave your account if you authorise it. So approve transfer requests only from the people you trust, or for transactions that you have initiated. If you don’t remember initiating a transaction, decline.
Please pay attention to ‘spam’ and ‘stranger’ warnings that appear on Google Pay, in case an unknown contact requests for a money transfer. Read these signals carefully and only transact with people you recognise and trust.
Be alert to the direction of the money flow. Receiving money never requires your UPI PIN, only sending money does. If you need to enter your UPI PIN, you are authorising a payment.
If you need support or help, contact the 24/7 support only from within the app. Do not call unverified numbers present on the web.
