Photo Credit: Pexels/ Anna Pou
Deactivating UPI payments becomes one of the important tasks if you've lost your mobile phone. Unified Payments Interface (UPI) has become a prominent payment system in India, with UPI transactions crossing over 2,800 million in June. Starting from bill payments to transferring money from one bank account to another, UPI can be used for most tasks that require real-time transfer of funds. All major commercial banks in the country support UPI as a part of the collective goal to transform India into a digital economy.
But with the growth of UPI as a system for enabling digital payments, it has also become important for users to understand what they should do to save their hard-earned money.
In this article, we are detailing the steps you should take to deactivate UPI payments from your linked bank accounts in case you lose your mobile phone.
Before beginning with the steps on how you can deactivate UPI transactions in case you lose your mobile phone, it is important to note that you should not share your UPI PIN or any other sensitive details with anyone during the process.
An FAQ page on the National Payments Corporation of India (NPCI) site talks about blocking a mobile number in case a user has lost their mobile phone. However, there isn't any workaround available on the site to let users get their UPI access blocked.