PayTM becomes India's first app POS
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References:
1. https://twitter.com/deepakabbot/status/80130864...
2. https://twitter.com/deepakabbot/status/80130996... – You can accept all Debit and Credit cards now. 0% fee on debit cards till 31st Dec as an introductory offer.
3. https://twitter.com/Soniadhawn/status/801312885...
4. https://twitter.com/Paytm/status/801316789196...61
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@swaroop.ms Thanks for sharing this! 
Additional details: I am guessing they will have some sort of card scanning (photo) feature like Payzapp. Details TBD.
Swipe machine linked to paytm account??
How will it work??
There is no swipe machine. It’s a completely app based POS system. That’s why it’s a big news.
As I mentioned, I am guessing it will work based on card scanning via the phone’s camera. Payzapp already has that feature for linking cards to your wallet.
@DealSeeker wrote:What is this offer??
@swaroop.ms Thanks for sharing this!
Additional details: I am guessing they will have some sort of card scanning (photo) feature like Payzapp. Details TBD.
Send money to bank at 0% charge. 
P.S. Those who think that I should not explicitly mention this should (1) know that Paytm must have already considered this and (2) think of the tax ramifications. In case you didn’t know, even PayU and InstaMojo had 0% offers during their early days.
it’s a completely shitty process, in this we have to add money in our wallet by others card as we have to put thier dc/cc details in our app and have to complete payment. its just like adding money process. moreover, i think they are directly adding money to your wallet which you have to send to bank by yourself by paying 1% charges. #KhodaPahadNikliChuhiya
MARK MY WORDS, No one will let you put thier card details in that App and do transaction via password /OTP.
You have missed the fact that when you register as a merchant with Paytm (which you are supposed to), the bank withdrawal charges are 0%.
@admin I am not able to edit quoted posts! Clicking the “Edit” button in the post compose popup does not do anything. Started today morning.
I think PayTM is acting like Kejriwal
Har cheej mein apni naak ghusedna…fir chahe vo sahi ho/galat ho…
needy ho/unneedy ho..
tuk wala ho/betuka ho…
simple ho/complicated ho…
logon ko samajh aaye/na aaye…bas hona chahiye drama.
I am feelings like i am watching Kejriwal 2.
Not so interesting. We have to enter card details( number and expiry) and password in VBV page.
Its a very easy way to get Customer card details !!
@VaibhavJain wrote:
it’s a completely shitty process, in this we have to add money in our wallet by others card as we have to put thier dc/cc details in our app and have to complete payment. its just like adding money process. moreover, i think they are directly adding money to your wallet which you have to send to bank by yourself by paying 1% charges. #KhodaPahadNikliChuhiya
MARK MY WORDS, No one will let you put thier card details in that App and do transaction via password /OTP.
Exactly! Unsafe and lengthy
I haven’t yet tested this feature. But, as I mentioned, they will likely update the app to have the card scanning feature via the phone camera.
Saying In short : This is complete Fail.
Epic fail bro, it’s a way to get customer card details like @yashveer-arya wrote above.
@DealSeeker wrote:
The merchant will hand over the phone to you for entering the CVV/PIN/OTP, as they already do for swipe transactions. As I said, I don’t see any security issues which already don’t exist in the current swipe-based POS machines.
Edit at 1:29pm: If anything, I feel this POS system from Paytm would be more secure because of the 2FA (i.e. OTP) verification. The only issue is the inconvenience of entering the card details manually. But, as I mentioned, they will likely implement the card scanning via camera feature soon.
What if merchant captures screen while we’re entering card details. There are many ways to do so
Yes, and all those scenarios apply to the existing swipe machines as well. Please read my posts carefully.
Merchants using edc / swipe Machines won’t know our card details.
RepetiTouch app 
@Tejaa OTP. 
@DealSeeker wrote:@Tejaa OTP.
But few banks like ICICI & Indusind have a option of “Transaction password” for DC (OTP is the second option / optional)
And lazy people like me always choose “Transaction password” because otp takes time to reach
India has a population of 1.2 Bn, and only 700,000 merchants accepting Credit and Debit Cards. That’s one POS Machine every 1785 Indians. Now that’s a little less. The US has one every 25 people, the UK has one every 40 people and China has one every 60 people.
What if we made it one POS every 120 Indians overnight?
Introducing the Paytm App POS. You just need the Paytm app to start accepting Debit and Credit card payments.
Why is Paytm doing this?
At Paytm, we are democratizing the payments sector by allowing every merchant access to mobile payments. Currently there are only 1.4 Mn POS Terminals in India to serve over 750 Mn Debit/Credit Cards.
What are the charges?
It’s free for the customer. Till 31st December 2016, there are no charges on the merchant’s end as well.
How safe is this?
Paytm is a PCI-certified firm, and follows the regulatory guidelines prescribed by the RBI. The customer’s card number or CVV details would not be saved as mandated under PCI DSS standards.
Can I pay using net banking?
POS are meant to accept only cards. However, you can use net banking to add money to your Paytm account for self-use or sending money to someone.
How do I get to know my transaction is complete?
The shopkeeper will show you a digital receipt on his smartphone and you’ll also receive a payment confirmation SMS from your card provider.
Source: https://paytm.com/blog/every-indian-merchant-ca... CC @swaroop.ms
@DealSeeker is in full support of PayTM POS payment. If in future anyone faces any problem using this ATM/PayTM kindly mail to
or
they should offer UPI. far more secure and also inclusive. the buyer can tell the merchant his UPI, merchant will initiate a pull request. buyer will verify in his mobile.
Total failure and dramatisation of things has been done by paytm. Why the f*** would I enter my card details into someone others mobile and make the payment isn’t it much better to add money to my paytm account and paying someone after that.
Paytm is just faking how things work now.
Outside India, anyone can go to grocery store and buy a payment swiping machine and become merchants. Who will want to enter or scan their cards to anyone else’s app.
#MyIndia #PaytmSucks
Its should be aptly called as india’s first " peice of s###t" 
. All these ideas has been taken from alibaba , its father
here you go @desibuddy enjoy.