Have you ever paid someone via UPI, but the receiver didn't get the money? Or has someone ever said they paid you via UPI, but it didn’t reflect in your bank statement? Yes, these are some common UPI scam techniques these days.
The UPI payment system is doing better than ever, with its transaction failure rate below 1%. Yet, some users fall prey to such purported UPI issues due to a lack of awareness. 
Here’s the thing: A UPI app has everything one needs, not just to send and receive money but to keep themselves protected against fraud. Let's discuss one such element, the UPI reference number, and explain how you can use it to dodge scams.
 

Sometimes it can be difficult to understand how banks handle your money, particularly when you come across extremely technical terminology like Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR).

Rohit received his first salary credit and felt proud. A few months later, a colleague casually asked him, “Have you filed your ITR yet?” That single question created instant confusion. He had tax deducted from his salary, so what else was left to do?

You probably use digital payments so often now that it feels almost automatic. A UPI address is one of the reasons that experience feels so smooth. It works as your personal digital payment identity and lets you send or receive money in seconds.  

When you look at IMPS vs NEFT vs RTGS vs UPI, UPI stands out because it runs around the clock and fits easily into everyday life. The system now handles over 20 billion transactions every month, showing how deeply people trust it. 

Your financial life probably runs on recurring payments, monthly EMIs, insurance premiums, a SIP, utility bills, etc. These get deducted on the same date every month.

UPI (Unified Payment Interface) has made credit card bill payment easier than ever before. With just a UPI ID and your favourite payment app, you can clear your credit card dues instantly, securely, and without dealing with complex banking steps.

The short answer is no; checking your own credit score does not affect it. Such occurrences are referred to as soft inquiries and are completely harmless.

Today, UPI has emerged as a complete game-changer for individuals. This payment system is highly efficient and imperceptible to the user, and it has completely supplanted the traditional, still unbranded way of transacting, making it a necessity in the digitally adept era.

Every month, money moves in and out of our bank accounts in small and big ways. In the middle of all this activity, many people stop to check their actual bank balance.