Quick Answer: How Safe Is Paytm?

Paytm is PCI DSS compliant in terms of security.

We never store customer’s CVV number to ensure their Credit and Debit Card details are completely safe.

All financial transactions on Paytm are done with 128-bit encryption SSL security.

Can Paytm be trusted?

Paytm Payments Bank Debit Card

Always shop or make payments through trusted/reputed websites. 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.

Is Paytm approved by RBI?

Paytm Payments Bank has received the green light from the Reserve Bank of India to restart opening accounts for its customers. The bank intends to start Know Your Customer formalities for its wallets as well as its bank accounts from Dec 31, confirmed a company spokesperson.

Is Paytm safe for KYC?

Paytm has clarified in a blog that users can continue to use the digital wallet app even without linking their Aadhaar or KYC process. “Paytm is also a commerce platform and we allow users to do any transaction using Credit Cards, Debit Cards, Net Banking & UPI in addition to Prepaid Wallet.

How can I make Paytm more secure?

Go to your Phone’s Settings > Security > Screen Lock > Choose Screen Lock. You can select Pin, Password, Pattern or Fingerprint to protect your phone. Open the updated Paytm App & click on “Pay” or “Passbook”. You will be prompted to enable this optional feature.

Do Paytm sell fake products?

Paytm will not sell fake items. Sellers will sell fake items. Some of them sell genuine items some them sell fake or OEM products. Paytm will not check every item from every seller what they listed on paytm website.

Can Paytm be hacked?

Hacking of account of Paytm. Paytm relies on your mobile as a substitute for debit cards. If your mobile is lost/stolen, your paytm account can be easily hacked since your password can be reset by sending a simple OTP to the mobile.

Is Paytm banned in India?

The Reserve Bank of India (RBI) has revealed that Paytm was in violation of know-your-customer (KYC) rules while on-boarding users for its payments bank business for which it was banned from opening new accounts and e-wallets in August, The Times of India reported.

Is Google Pay banned in India?

The reason Google Pay is able to operate in India is that it has the approval of the National Payments Corporation of India (NPCI), which runs UPI and approves and monitors all payment services in India.

Is Paytm a Indian company?

Paytm was founded and incubated by One97 Communications Limited in 2010 as a prepaid mobile recharge website. **Paytm** is an Indian electronic payment and e-commerce brand based out of Delhi NCR, India. Launched in August 2010, it is a consumer brand of parent company One97 Communications.

Is Aadhaar compulsory for Paytm?

PayTM has two options – PayTM wallet and PayTM Payment Bank Wallet. If you are on former (very likely), then it is optional. If you do KYC (updating Aadhaar etc), you will be able to transfer upto 1 lakh. If you do not do KYC, then the limit is only upto Rs. 20000.

Is Aadhaar card enough for KYC?

The Reserve Bank of India (RBI) has made linking of national biometric ID Aadhaar to bank accounts mandatory as part of its updated ‘Know Your Customer (KYC)’ guidelines. This, however, will be subject to the final decision of the Supreme Court on making of Aadhaar mandatory, RBI said in a circular late last night.

Can I complete Paytm KYC online?

Full KYC basically requires you to link your PPI account with your Aadhaar. You can complete the process using your mobile number, PPI’s app, online, or by visiting a KYC centre. Here is how you can complete the full KYC process for Sodexo, Ola Money, and Paytm.

Can I use Paytm without bank account?

Yes you can definitely start using Paytm without a bank account. As for loading money you will need a bank account from where you can debit money to add it to your wallet. Or what you could do is ask your friend or family member to load money into your Paytm wallet from their bank and you pay them in cash.

Can a person have 2 Paytm accounts?

No, As per the RBI guidelines only one wallet is allowed with one merchant(paytm, Amazon, etc.) against one aadhar card. amazon.in then you can keep these two account but you can only add money in one account and in another account your cashback(if it applicable) will auto credit in to your non-kyc wallet.

Visit your Account Balance section -> Manage Payments to link your PhonePe / PayTM account. For unlinking: Visit your Account Balance section -> Manage Payments. Tap on the PhonePe / PayTM option and select ‘Unlink PayTM account’ on the following page.