UPI-ID Disadvantages: Making payment through UPI has become very easy. After the arrival of UPI in the country, the era of digital payments has started. This has promoted cashless transactions. Many people use different UPI IDs for online payments. In such a situation, the question arises that what are the advantages and disadvantages of making payment through more than one UPI ID.
UPI has contributed a lot in promoting digital payments. UPI payment is quite secure. Now UPI is used for payments ranging from small to large amounts. In such a situation, many people make payment through more than one UPI ID. In such a situation, a question arises in the minds of many people that whether more than one UPI ID is secure or not.
What is upi transaction
UPI is the first cashless transaction in the country. This means that online payment can be done easily without cash through UPI. You can easily make UPI payment from your smart phone or even feature phone. Along with online payment, it also helps a lot in making transactions from one bank to another.
For UPI payment, you need UPI PIN along with bank details. With its help you can make UPI payment in a few minutes. For UPI payment you have to enter your bank account number and mobile number.
Benefits of more than one UPI ID
Many people make payments with more than one UPI ID. This means that they pay mostly through Paytm, Google Pay, PhonePe. To make all these payments, he uses a different UPI ID. In such a situation, the advantage of using a different UPI ID is that if one app does not work, you can use the other app.
Apart from this, if you get the benefit of more rewards or cashback on any app, then you can make payment from that app. For example, if you get more cashback benefits on Google Pay than on PhonePe for paying electricity bills, then you can make the payment through GooglePay.
Disadvantages of more than one UPI ID
Every UPI app has its own protocols. In such a situation, if you use more than one UPI ID, then hackers can steal data from the app by taking advantage of any loophole in the security system. In such a situation, you may have to suffer loss. On the other hand, regarding separate UPI ID
Confusion may also increase. In such a situation, it can also affect the cashflow.
You should always keep your app updated for online payments. If you do not update any app then the news of cyber fraud may increase.
