How UPI prevents us from fraud while doing transactions?
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UPI ensures that your bank details remain confidential. While doing the transaction, UPI uses the Virtual Payment Address (VPAs) instead of sharing bank account number. UPI uses the Two-Factor Authentication, which requires PIN and OTP for verification. All the transactions are end-to-end encrypted which prevents us from fraud. All these security steps are taken by UPI to maintain the security and privacy of your transactions.
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This is a common issue nowadays in online transactions that money was debited from the account but not credited to another account. If it happens then there is no need to worry because when a transaction fails for some reason money is refunded back.
Sometimes, transactions take a few hours to process. If the transaction is still pending wait for 24 hours before taking further action. If the money is not credited within 24-48 hours, then lodge a formal complaint with your concerned bank. Give them the transaction ID or reference number to get the exact reason why it failed and was not credited into the receiver's account. You can also file an online complaint at cms.rbi.org.in and at NPCI (National Payment Corporation of India).
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