With regards to a few media reports about technical malfunction in certain banks’ Unified Payments Interface (UPI) application, NPCI has clarified that there is no vulnerability or loophole reported in Bharat Interface for Money (BHIM) application or UPI system.
NPCI has done intensive testing, robust design of security controls and continuous monitoring of its UPI infrastructure. The environment in which BHIM or UPI is run by NPCI is highly secure and certified with best global practices like PCI DSS ISO 27001. The packages have also been audied by reputed IT security firms. NPCI has put in place adequate governance mechanism for banks to report any fraud or system issues and its redressal, said a Reuters report.
Four highlights mentioned in the report are:
* No vulnerability or loophole reported in bharat interface for money (BHIM) application or UPI system.
* Environment in which BHIM or UPI is run by NPCI is highly secure and certified with best global practices like PCI DSS ISO 27001.
* Packages have also been audited by IT security firms.
* Has put in place adequate governance mechanism for banks to report any fraud or system issues and its redressal.
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Here are 5 things to know while facing any issue while transacting through UPI:
1. How to avoid transaction failures?
To avoid transaction failures, ensure that the UPI-PIN is entered correctly. If the receiver is not on BHIM, choose to pay via IFSC instead of mobile number.
2. What if you change your handset?
If you change your handset, you will need to
Download the BHIM app again
Login with your mobile number and password
Allow BHIM to verify you. This is for your security. After verification your account will be restored.
3. What if you lose your phone?
If you lose your phone, the UPI-PIN required to authorize all transaction will not be known to any third person and hence they will not be able to use BHIM. In addition, please contact our customer support at your bank.
4. What to do when UPI transaction has failed but bank account has been debited?
In case of failures money will be refunded back to your account. Sometimes this takes longer than intended. If you do not receive the refund within 1 hour, please contact customer support at your bank.
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5. In case the mobile is used by another person, will there be any security breach?
In any transaction through UPI, PIN would be required which needs to be fed through the mobile at the time of any transaction making it safe and secured.