As UPI fraud is on the rise, BharatPe releases a new feature called Shield. What is it? How do you use it?

News Mania Desk / Piyal Chatterjee / 20th December 2024

Earlier last month, BharatPe launched a new service named “Shield” to shield its customers from the growing threat of UPI fraud. With online frauds growing increasingly common, this program is a step towards making digital transactions safer for everyone. Shield provides a complete protection package that protects users against fraud, phishing attempts, and unauthorized transactions, even if they lose their phone.Shield is intriguing since it is both accessible and affordable. For the first 30 days, consumers may utilize the service for free. After the trial time, it just costs Rs 19 per month, a modest fee to pay for peace of mind. The plan gives up to Rs 5,000 in coverage against fraudulent acts.

Getting started with Shield is simple. The service is offered through the BharatPe app, which can be downloaded for Android and iOS smartphones. Shield may be activated right from the app’s homepage by clicking on the appropriate banner. To activate the service, first-time users must spend a minimum of Rs 1 to any contact or company.If a user encounters a fraudulent scenario, submitting a claim is equally simple. BharatPe has collaborated with OneAssist to simplify the procedure. To report an incident, users can download the OneAssist app or phone the toll-free hotline, 1800-123-3330.

However, there is a vital requirement: consumers must report the fraud within 10 days of it occurring in order to be eligible for a claim. Depending on the circumstances, various papers may be required, including a UPI transaction statement, a copy of the police report or FIR, a claim form, and proof of disabling the UPI account. Additional papers may be requested, depending on the nature of the fraud.

In today’s world, when digital payments have become commonplace, programs like Shield provide a much-needed safety net. Although this program offers essential security, customers must be attentive. Avoid clicking on unexpected links, downloading apps from unverified sources, or disclosing critical financial information to strangers. BharatPe’s Shield is a timely and sensible addition to the digital payment landscape. With a rising number of people, including you and me, relying on UPI for anything from groceries to bill payments, having a safety net like Shield is comforting. While it cannot completely remove the danger, it is an important step toward making digital transactions safer for everyone.