If you have lost your phone to thieves recently, chances are that your banking data is unsafe. SInce your registered mobile number is a source of data for thieves, with a plethora of OTPs being sent tot the number for account verification. Here’s how to block your UPI to prevent fraud.
How to disable your UPI ID. (Pexels/X)
New Delhi: Phone banking has become a byword for online transactions, with the ease of making payments using UPI. However, smartphone users are also vulnerable to data misuse in the event that their phone is stolen. Phone users must first and foremost file a police complaint reach out to their telecom company and get the SIM blocked.
This will disable the issuance of OTP on your registered phone number and also render the PIN useless. Users can also reach out to their bank to block their UPI ID.
How to stop Paytm UPI on stolen phone?
- Call the Paytm bank helpline number at 0120-4456456
- Select the lost phone option on IVR
- Enter your registered mobile number
- Choose the option to log out from all devices
- Your Paytm ID will be temporarily disabled
How to disable Google Pay UPI
- Call 18004190157
- Or go to Google ‘Find my phone’
- Apple iPhone users can try Find my app
- These options can be used to delete your phone number from the app database and secure it from fraud
How to recover PhonePe UPI ID
- Call 08068727374
- Furnish verification details
- Connect to customer care
- Share the required details to block your UPI ID
NPCI encourages new UPI apps
With PhonePe and Google Pay cornering a major share of UPI transactions, the National Payments Corp of India (NPCI), the nodal agency behind UPI, is encouraging new players to break the duopoly of the companies named above.
NPCI is looking for challengers that can shake up the status quo and dominance of PhonePe and Google Pay, which have further cemented their position since Paytm’s UPI share fell RBI ‘s operational ban on Paytm Payments Bank.
New entrants in UPI space include:
| S. No. | New UPI apps |
| 1 | Amazon Pay |
| 2 | Slice |
| 3 | Jupiter |
| 4 | Navi Technologies |
| 5 | Baja Pay |
| 6 | Tata Neu |
Food delivery aggregator Zomato is also one of the entities with a UPI license.
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