PayTM becomes India's first app POS

PayTM becomes India's first app POS

Score: 5 Votes: 7

Vote down Reasons

  • Better price elsewhere : 1
Score: 5 Votes: 7

Vote down Reasons

  • Better price elsewhere : 1
Score: 5 Votes: 7

Vote down Reasons

  • Better price elsewhere : 1
Score: 5 Votes: 7

Vote down Reasons

  • Better price elsewhere : 1
Score: 5 Votes: 7

Vote down Reasons

  • Better price elsewhere : 1
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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

49 Comments  |  
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@swaroop.ms Thanks for sharing this! https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

Channel Alert
Info: Paytm launches app POS. 0% transaction fee on debit cards till Dec 31!


Additional details: I am guessing they will have some sort of card scanning (photo) feature like Payzapp. Details TBD.

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Swipe machine linked to paytm account??

How will it work??

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https://cdn0.desidime.com/attachments/photos/229/medium/Cx7WHI4XEAAP_sC.jpg?1479885238

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@DealSeeker wrote:

@swaroop.ms Thanks for sharing this! https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

Channel Alert
Info: Paytm launches app POS. 0% transaction fee on debit cards till Dec 31!


Additional details: I am guessing they will have some sort of card scanning (photo) feature like Payzapp. Details TBD.

What is this offer??

ad bot
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Ad Bot

I found this sponsored content on one of the ad networks.

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cuptaan wrote:

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.

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Lala wrote:

What is this offer??

Send money to bank at 0% charge. https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif https://cdn1.desidime.com/assets/textile-editor/icon_eek.gif https://cdn3.desidime.com/assets/textile-editor/icon_lol.gif

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.

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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.

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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.

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Not so interesting. We have to enter card details( number and expiry) and password in VBV page.

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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

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.

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Its a very easy way to get Customer card details !! https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif

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@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

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cuptaan wrote:

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.

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DealSeeker wrote:

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.

you missed what i wrote below it check again. and even scanning of card is dangerous bro as some smart shopkeeper know well how to snap card details in between of old women or simple janta. carding will be increased if scanning will be introduced but the point is,no one will let you scan thier card. tell me will you give your card details to shopkeeper for putting in app or for scanning it?

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VaibhavJain wrote:

you missed what i wrote below it check again. and even scanning of card is dangerous bro as some smart shopkeeper know well how to snap card details in between of old women or simple janta. carding will be increased if scanning will be introduced but the point is,no one will let you scan thier card. tell me will you give your card details to shopkeeper for putting in app or for scanning it?

Seems like you do not know that the card details are also available via regular swipe machines. With the CVV and 2FA protection as usual, there is nothing new here.

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DealSeeker wrote:

Seems like you do not know that the card details are also available via regular swipe machines. With the CVV and 2FA protection as usual, there is nothing new here.

they are even asking cvv also and you have to provide it to shopkeeper to complete the payment. machines, pos, emvs are crypted by bank and details is not visible in format like shopkeepers can have if they use paytm. because you have to provide expiry date, cvv and card no. to them and otp or you have to put password there. the thing is they will be knowing your cvv, expiry and card details. which isn’t secure.

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DealSeeker wrote:

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.

App already updated with ‘Accept Payment’ option

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Saying In short : This is complete Fail.

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cuptaan wrote:

Saying In short : This is complete Fail.

Epic fail bro, it’s a way to get customer card details like @yashveer-arya wrote above.

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VaibhavJain wrote:

Epic fail bro, it’s a way to get customer card details.

I would say half fail as pay by QR is good.

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CrazyTroll wrote:

I would say half fail as pay by QR is good.

arre, we are talking about only POS thing here.

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VaibhavJain wrote:

they are even asking cvv also and you have to provide it to shopkeeper to complete the payment. machines, pos, emvs are crypted by bank and details is not visible in format like shopkeepers can have if they use paytm. because you have to provide expiry date, cvv and card no. to them and otp or you have to put password there. the thing is they will be knowing your cvv, expiry and card details. which isn’t secure.

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.

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@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

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cuptaan wrote:

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.

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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.

still Paying via QR code is more secured and convenient, isn’t it? Then why go for shitty things, there are lot of apps which can capture screen or/and record keystroke. And remember there are charges on using it which will be borne by merchant, so even merchant wont gonna accept it.

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Thesamr wrote:

still Paying via QR code is more secured and convenient, isn’t it? Then why go for shitty things, there are lot of apps which can capture screen or/and record keystroke. And remember there are charges on using it which will be borne by merchant, so even merchant wont gonna accept it.

Bro, you have to understand that this is more of an inclusion move by Paytm. To pay via the QR system, the customer needs to have the Paytm app. While here, they are freeing the merchants from that huge limitation. Now any customer, regardless of whether he is a Paytm user or not, can pay to a Paytm merchant.

As for the charges, I am sure they will charge competitively as compared to the existing swipe-based POS options. For now, it’s free.

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DealSeeker wrote:

Bro, you have to understand that this is more of an inclusion move by Paytm. To pay via the QR system, the customer needs to have the Paytm app. While here, they are freeing the merchants from that huge limitation. Now any customer, regardless of whether he is a Paytm user or not, can pay to a Paytm merchant.

For overcoming “Paytm App” limitation, they should have introduced ‘Pay by sms feature’or tell your paytm no. and otp (Like freecharge) or just put your unique paytm id in merchant phone secured via otp. That would have been better option as far as I understand

P.S: Sorry for poor english

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Thesamr wrote:

For overcoming “Paytm App” limitation, they should have introduced ‘Pay by sms feature’or tell your paytm no. and otp (Like freecharge) or just put your unique paytm id in merchant phone secured via otp. That would have been better option as far as I understand

P.S: Sorry for poor english

Err, you missed to understand my statement about inclusion. You are assuming that all customers would have a Paytm account. Think of this option as an alternative for card-carrying customers who do NOT have a Paytm account (for whatever reasons). The merchants want a POS solution which will work for all customers and this is it!

As you pointed out, the QR option is already a better choice for customers who use Paytm already.

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