Paytm introduces Payment Protect feature to secure digital payments: Check details
Indian digital payments and financial provider, Paytm, today introduced a new feature on its platform in India that is aimed at helping users secure their online transactions in the country. The company today introduced ‘Paytm Payment Protect’ functionality in India, which is essentially a group insurance plan that insures transactions made through UPI across all apps and wallets. The company has partnered with HDFC ERGO General Insurance for the same.
Paytm says that its new insurance offering, that is, Paytm Payment Protect costs Rs 30 per annum and it enables Paytm users to secure themselves against mobile fraudulent transactions up to Rs 10,000. The company soon plans to introduce more cover options that will enable users to safeguard higher value digital transactions of up to Rs one lakh per annum.
The company, in a blog post said that its Paytm Payment Protect functionality is a “first-of-its-kind offering, this product is aimed to further enhance the trusted digital payments experience and increase the adoption of the same in the country.”
“We are offering an insurance cover with convenient claims with a vision to safeguard users and fight cybercrimes. Our partnership with HDFC ERGO is aligned with our mission of spreading financial awareness and propelling safer digital payments adoption in the country,” Bhavesh Gupta, CEO of Lending and Head of Payments at Paytm, said on the occasion.
Interestingly, the development comes shortly after Paytm introduced UPI interoperability on its platform that enables users to make UPI transactions to any mobile number across all UPI payment apps even if the recipient is not registered with Paytm. The feature not only gives users more flexibility while performing transactions using Paytm, but it also promotes the adoption of mobile payments in India.
If you are a Paytm user, here is how you can secure your digital transactions using Paytm’s Payment Protect feature:
How to use Paytm Payment Protect
Step 1: Download the latest version of Paytm app on your smartphone and open the app.
Step 2: Search for ‘Payment Protect’ in the Paytm app.
Step 3: Enter your name and mobile number.
Step 4: Tap on ‘Proceed to Pay’ option to make payment using your Paytm wallet and you’re good to go.
The post Paytm introduces Payment Protect feature to secure digital payments: Check details appeared first on BGR India.
Indian digital payments and financial provider, Paytm, today introduced a new feature on its platform in India that is aimed at helping users secure their online transactions in the country. The company today introduced ‘Paytm Payment Protect’ functionality in India, which is essentially a group insurance plan that insures transactions made through UPI across all apps and wallets. The company has partnered with HDFC ERGO General Insurance for the same.
Paytm says that its new insurance offering, that is, Paytm Payment Protect costs Rs 30 per annum and it enables Paytm users to secure themselves against mobile fraudulent transactions up to Rs 10,000. The company soon plans to introduce more cover options that will enable users to safeguard higher value digital transactions of up to Rs one lakh per annum.
The company, in a blog post said that its Paytm Payment Protect functionality is a “first-of-its-kind offering, this product is aimed to further enhance the trusted digital payments experience and increase the adoption of the same in the country.”
“We are offering an insurance cover with convenient claims with a vision to safeguard users and fight cybercrimes. Our partnership with HDFC ERGO is aligned with our mission of spreading financial awareness and propelling safer digital payments adoption in the country,” Bhavesh Gupta, CEO of Lending and Head of Payments at Paytm, said on the occasion.
Interestingly, the development comes shortly after Paytm introduced UPI interoperability on its platform that enables users to make UPI transactions to any mobile number across all UPI payment apps even if the recipient is not registered with Paytm. The feature not only gives users more flexibility while performing transactions using Paytm, but it also promotes the adoption of mobile payments in India.
If you are a Paytm user, here is how you can secure your digital transactions using Paytm’s Payment Protect feature:
How to use Paytm Payment Protect
Step 1: Download the latest version of Paytm app on your smartphone and open the app.
Step 2: Search for ‘Payment Protect’ in the Paytm app.
Step 3: Enter your name and mobile number.
Step 4: Tap on ‘Proceed to Pay’ option to make payment using your Paytm wallet and you’re good to go.
The post Paytm introduces Payment Protect feature to secure digital payments: Check details appeared first on BGR India.
