Wednesday January 29, 2020
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After Twitter Backlash, Paytm Says Postpaid Service ‘Active’

Another user, Kuldeep Sharma tweeted with a screenshot showing that the services have been discontinued: “My paytm postpaid is disabled. Please explain? @Paytmcare @Paytm @PaytmBank.”

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Paytm Logo. Wikimedia Commons

As reports emerged of cancellation of several Paytm user’s ‘Paytm Postpaid’ services earlier in the day, with users venting their anger on Twitter, the company has said the services are active and difficulty faced by some users will resolve once the pending KYC requests are completed.

“We would like to inform that your Paytm Postpaid service is active and operational,” the company said in a blog.

“Paytm Postpaid is issued by Clix Capital which is India’s leading digital lending NBFC. They have been managing huge requests for pending KYCs because of which you may not have been able to access your Paytm Postpaid account. Once KYC is completed, you will be able to use it as before,” it said.

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Not charging extra for digital transactions: Paytm. Wikimedia Commons

The statement further said that many of the users who have completed their KYC are already enjoying the benefits of Paytm Postpaid, adding that Paytm Postpaid would soon come up with an increased spending limit on the basis of the consumers’ payment behaviour.

It further said that there is no change in terms and conditions.

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A twitter user, Shreyam Karmakar tweeted: “@Paytm @Paytmcare @paytmbankcare… #Paytm suddenly stopped #PaytmPostpaid service, no previous information nothing. How they can stop this helpful service suddenly. Infact i have always paid my dues on time.”

Another user, Kuldeep Sharma tweeted with a screenshot showing that the services have been discontinued: “My paytm postpaid is disabled. Please explain? @Paytmcare @Paytm @PaytmBank.” (IANS)

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Paytm Payments Bank Announces Artificial Intelligence Driven Security Measures To Protect Transactions

The company said it has a dedicated team of over 200 cybersecurity experts and industry stalwarts to ensure round the clock security of every user transaction

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Paytm
One of the new features on Paytm Payments Bank analyses 'rogue' apps on user devices which might trigger fraudulent transactions and advises users to uninstall them. Wikimedia Commons

Paytm Payments Bank on Monday announced Artificial Intelligence (AI)-driven security measures to safeguard users from fraudsters and protect their transactions.

One of the new features analyses ‘rogue’ apps on user devices which might trigger fraudulent transactions and advises users to uninstall them.

The bank is also leveraging AI to instantly detect suspicious transactions.

Depending on the identified threat level of a transaction, the AI either slows it down or completely blocks the payment from getting completed, the company said in a statement.

“This security feature will scan the apps installed on the user device and will pop-up a security alert whenever a dangerous app is found that may put the users’ accounts at risk,” said Satish Gupta, MD & CEO of Paytm Payments Bank.

No transactions will be possible until the user uninstalls that fraudulent app.

“A large number of our users have welcomed this move. We have already seen cases where these features have stopped attempts to defraud our customers,” Gupta added.

The company said it has a dedicated team of over 200 cybersecurity experts and industry stalwarts to ensure round the clock security of every user transaction.

Paytm
Paytm Payments Bank on Monday announced Artificial Intelligence (AI)-driven security measures to safeguard users from fraudsters and protect their transactions. IANS

The teams are closely working with all state and central police forces and cyber-cells as well as telecom companies to detect, prevent and report fraudulent transactions for immediate action, informed the company.

The bank has submitted a comprehensive list of 3,500 phone numbers involved in SMS and call scams to authorities.

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It has filed an FIR against these criminals with the Cyber Cell for an immediate action to stop the scam. (IANS)