Mobile payments and banking are safe — especially with Paytm, as we use world-class security and encryption to keep your data as safe as possible. However, your behaviour and actions are probably more important than how you access your Paytm account.
In many ways, mobile payments and banking are safer than carrying a physical wallet and taking wades of cash to your nearest bank branch. However, it is important to remember that fraudsters can still get enough information to access your account from various places.
Paytm is India’s largest e-commerce payment system and digital wallet company and has a huge customer base. With Paytm, you can do a lot of things like mobile recharge, paying utility bills like electricity and water bills, book movie and travel tickets, making payments at stores, restaurants, pharmacies and so on. Paytm has a large number of merchants across India, who use QR code to accept payments directly into their bank accounts.
Tips To Use Paytm Safely
1. Download authentic Paytm app:
You must verify and install the genuine Paytm app from the Google Play Store and Apple Store. Fraudsters create fake apps to cheat people, so you have to be very careful.
2. Use app password:
To keep the money in the wallet safe, Paytm has launched the app password feature for its wallet. This feature ensures that nobody can transfer money from your Paytm wallet without permission. You need to first set a password for your phone. To protect your phone, you must go to the phone’s Settings > Security > Screen Lock > Choose Screen Lock. Once you are done, you must open Paytm and click on My Security Settings > Manage App Lock > Secure access to Paytm.
3. QR code
You must use QR codes for accepting and making payments as they are unique and encrypted codes, which ensure secure payments.
4. Don’t save your card details
It is advisable not to save card details while recharging your wallet. Even though it is quite inconvenient, doing so ensures the safety of your wallet.
5. Avoid keeping too much money in the wallet
Don’t keep too much money in your Paytm wallet, because if your wallet is hacked, you will lose money. It is good to load the wallet with a small amount of money.
6. Add your email
You must add your email ID and verify it. By doing so, you can be notified on any unauthorized activity in your account.
How to secure your Paytm wallet when you lose your money?
This is what you must do when you lose your mobile phone.
1. If your mobile is lost or stolen, the first thing you must do is get your SIM card blocked by contacting the mobile operator.
2. Once you are done blocking your SIM card, you must call Paytm Payments Bank helpline number from any other mobile number and follow the given steps:
- Select the lost phone option.
- Select the option where you can enter a different number from which you are calling.
- Enter the lost mobile number and select the option to log out from all devices.
Doing so will log you out from all Paytm sessions and the person who has your lost phone cannot login.
These 3 short and simple security tips can keep you safe every time you use your favorite Paytm Wallet, Paytm Payments Bank account and Paytm Payments Bank Debit Card :
- Always verify and install the authentic Paytm app from the Google Play Store and Apple Store
- Add your email and verify to get notified of any untoward or unauthorized action on your account.
- In the event you misplace or lose your phone, please get the SIM blocked immediately and log yourself out from web.
Paytm Payments Bank:
- Check all official bank emails and transaction alerts sent via SMS and email for unauthorized transactions
- Don’t transfer funds without due validation of who you are transferring funds to. Your transaction cannot be reversed
- Never share your Paytm Payments Bank PIN, passcode, OTP and M-PIN with any one.
Paytm Payments Bank Debit Card
- Always shop or make payments through trusted/reputed websites. Stay away from links you get in your mailbox.
- Do not enter your confidential account information such as your Paytm Digital RuPay Card Number, Expiry Date, CVV values, etc with anyone, even if they claim to be from Paytm.
- Never share OTP with any one, OTP is a temporary password which need to be kept secret same as mPIN.