We’ve all done it at least once – sent money online to the wrong person or transferred more than we needed to pay. Once it is gone, it is gone, right? If the recipient is a friend or family, you can request them to return your money. But what if it is a remote merchant? Or worse – a fraudster?
Yes, digital payment modes like UPI are extremely useful and secure. Being careful when transacting online is important to avoid unnecessary inconveniences or fraud. But if you ever make a mistake while transacting via UPI, don’t worry.
Follow this step-by-step guide on UPI dispute redressal mechanism by the National Payments Corporation of India (NPCI).
X Steps of NPCI’s UPI dispute redressal mechanism
Step 1 – Immediately raise a complaint regarding the UPI transaction on the Payment Service Provider (PSP) or Third-Party Application Provider (TPAP) apps.
Step 2 – To do so, select the UPI transaction on the app and raise your concern.
Step 3 – If your complaint is not resolved soon, escalate the matter to the PSP bank, followed by the bank where you hold the related account, and finally, the NPCI. Register a complaint with the NPCI from here.
Step 4 – If there is still no remedy, contact the Banking Ombudsman and/or the Ombudsman for Digital Complaints.
Step 5 – Check for updates from the PSP or TPAP regarding the status of your complaint on the relevant app.
Safe UPI practices save money
UPI is one of the most popular payment modes in India today. The Reserve Bank of India (RBI) advises all consumers and businesses to stay aware to prevent online payment mishaps. To safeguard consumers against payment frauds and mistakes, the NPCI has also provided UPI Safety Shield safety tips for transacting via UPI.
Read more about UPI Safety Shield here.
