Digital payments are now a part of our everyday life with UPI apps like Google Pay, Paytm, and PhonePe being widely used. But here’s a word of caution — scammers have found a new way to deceive users by creating fake versions of these popular UPI apps. These look alike apps copy everything from the design to the color scheme, making them hard to spot. The catch? Payments made through them never actually happen.
Some of these fake payment apps active in the market are so advanced that they even produce a beep or chime that sounds just like a real payment notification. This makes it seem like the payment has gone through. However, in reality no transaction takes place and no money ever reaches your account.
Scammers use fake payment apps to trick unsuspecting people into believing that a transaction has been completed. In reality, these apps only mimic the payment process and the victim finds out later that no money was actually transferred. To help you avoid falling for such scams, here are a few useful tips you should keep in mind.//
– Check Transaction History: Always verify the payment through your official payment app or bank account. Don’t rely only on screenshots or notifications.
– Look for Inconsistencies: Try to spot any small errors or discrepancies in the transaction details — fake apps often have subtle mistakes that can alert you to a scam.
– Beware of Pressure Tactics: Be cautious of anyone who rushes you to complete a payment and doesn’t give you time to verify it properly.
– Watch Out for Unknown Apps: Stay familiar with the trusted UPI apps commonly used in your area. If someone insists on using an unfamiliar app, proceed with caution.
Shopkeepers are increasingly becoming targets of fake payment apps. Scammers take advantage of busy stores or distracted staff to trick merchants using these lookalike apps. As a result, shopkeepers may end up giving away goods or services without actually receiving any payment.
Train Your Staff: Make sure all employees are aware of this type of fraud and know how to spot fake transactions.
Implement a Verification Process: Set a standard procedure to verify payments before handing over goods or services. This could include waiting for confirmation from your PhonePe smart speaker (since fake apps can’t trigger these alerts), checking the transaction ID, or confirming the payment with your payment processor.
Report Suspicious Activity: If you come across any suspicious or fake payment app, report it immediately to the authorities and your payment service provider.
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