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• Never share OTP, PIN, Password or CVV which is asked in the name of fake customer care.
• Avoid clicking on unknown links or providing personal information in the name of KYC.
• Check regularly for app updates, strong screen lock and transaction alerts to keep your digital wallet safe.

In the digital world, many activities are done online, from filling forms to making payments and from shopping to education. Especially in today's digital age Online payment Widely used. Various apps are also available to make online payments. In many apps available for online payments, users are given the option of a digital wallet.

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In a digital wallet, after you make a payment at a store, instead of the money being deducted from the bank, the app deducts the money from the wallet. In fact, this facility is beneficial for many. But along with these benefits comes the risk of cyber fraud. So, many people have raised the question whether it is really safe to make payments using digital wallets. So let's know what exactly is a digital wallet, what are the risks that can arise while using it and how to stay safe while using a digital wallet. (Photo Courtesy – AI Created)

What exactly is a digital wallet?

In fact, a digital wallet is an app or an online system that stores payment information digitally. In this, payment is made by linking a bank account, card or other payment method. So that users don't need to carry cash or cards every time they make a payment. Digital wallet and UPI are not the same thing. UPI provides facility of payment directly from bank account. So, in a digital wallet, money is stored within the app itself and can be used anywhere.

Such fraud can occur while using a digital wallet

Beware of bogus customer care

Many times people search for digital wallet customer care number on the internet and mistakenly call a fake number. In such situations many people do not even realize that the person they are talking to on the call is not the customer care but the scammer himself. In such cases, scammers ask people to share their OTP, PIN or screen in the name of solving their problem. So always remember never share OTP, UPI PIN, Password and Card CVV with anyone.

Phishing and fake links

Scammers use phishing and fake links to trick users into using digital wallets. Scammers message you by pretending to be a bank official, wallet company or customer care officer. These messages contain fake links. Scammers try to get you to click on these links for a variety of reasons. As soon as you click on this link, your password, card details and other information reach the scammers.

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Keep it safe with digital wallet

By taking some necessary precautions while using digital wallets, you can stay safe from scammers. Always keep the apps in your phone updated, keep the screen locked in the phone and stay away from unknown links. Do not install 'remote-access' or 'screen-sharing' apps at the request of anyone. Also, keep an eye out for alerts from banks and payment apps. Additionally, if you come across any unknown transaction, you should immediately contact the concerned bank.