Paytm Announces OTP-Less Offline And Online Card Payments: Is It Secure?

|

Paytm, the online payments app has launched its OTP-less offline and online card payments feature which will allow users to make online transactions under Rs. 2,000 without any OTP. It seems that the company doesn't want its users to wait for the OTP to arrive via SMS and feed them before the timeout to make the payment. But the question is how secure is this option?

Paytm Announces OTP-Less Offline And Online Card Payments

 

According to Paytm's official blog post "This move will improve the overall payment flow in terms of transaction completion time and success rates while delivering the superior user experience."

According to the company, numerous users transfer less than Rs. 2,000 every day, with the introduction of this new OTP-less single click feature, the app will make the online transaction more convenient for users. The company claims that this is a secure way of online money transfer. To avail, this service users need to enable the service on their saved card or they can add a new card.

Also Read: Paytm Brings Recurring Payment Option For Merchants

Users can avail this service on platforms like Uber, Jio, Zomato and more. All you have to do is to select the card from which you want you to want to make the payment and provide a CVV number and place the payment or order.

Now, the question arises that how safe and secure is this service? OTP makes sure that the transaction is done by an authorised person, and it adds a layer of security to your online transaction. Users get the OTP if someone else is trying to make a transaction from their card or account, removing this feature might increase the chance of misuse.

There is a fine chance of people making use of your card details to make some series of small transaction. There are many reports which proved that debit and credit card details are easily available on the dark web. Let's see how Paytm is going to deal with the security of their users by removing the OPT option.

 
Most Read Articles
Best Mobiles in India

Read More About: paytm app news

Best Phones

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Yes No
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more