Paytm launches OTP-less offline & online card p...

Paytm launches OTP-less offline & online card payments

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Paytm launches OTP-less offline & online card payments:

Indian digital payments giant Paytm, on October 31, announced the launch of a new feature that allows users to make card payments without any one time password (OTP). The feature can be enabled for Visa and Mastercard payment cards.

Through this company, plans increase its transaction volume.

A large number of users spends less than Rs. 2,000 for their everyday frequent payments. The convenience of OTP-less single click payments will result in increased conversions in a more secure and convenient way. To avail the service, Paytm customers can enable their saved card or add a new card for instant payments at offline retail stores or while using any of their Paytm services and also at the partnered platforms such as Uber, Zomato among many others.

The company has also announced its payment integration with Flipkart owned Myntra where millions of Paytm users can now pay through any of their preferred payment mode (cards, wallet & UPI).

7 Comments  |  
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delete any saved card ASAP

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panchabhut wrote:

delete any saved card ASAP

done

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panchabhut wrote:

delete any saved card ASAP

Can’t trust these companies though. I had my debit card details once saved with mobikwik for a transaction. After that it would just not go away from their system no matter where i deleted it from, App or website, n nunnery of times. The card would not show on file, even the cc also said it’s no longer on file but as soon as i would select mobikwik on their partner sites to pay, the card details would fill in automatically. I first thought that the partner had card details stored so I tried those partners i had never transacted before and even there card details would pop as soon as I selected mobikwik. Deleted cookies and what not. Eventually I had to close that card due to risk. That was also the last time i used mobikwik. 

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panchabhut wrote:

delete any saved card ASAP

Anywhere the card details are saved for convenience.. also, please note that the CVV/CVC number is not stored (atleast where I have paid online)

why fear?

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161508 wrote:

Anywhere the card details are saved for convenience.. also, please note that the CVV/CVC number is not stored (atleast where I have paid online)

why fear?

I am a long married middle aged person on the wrong side of 40 and a finance professional. My perception of risk would naturally be different than yours.

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161508 wrote:

Anywhere the card details are saved for convenience.. also, please note that the CVV/CVC number is not stored (atleast where I have paid online)

why fear?

CVV is not required on many online websites like Amazon, Payzapp etc (dnt know about Paytm).

Enter any wrong CVV number and proceed for transaction, your transaction will get success.

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Amex has this facility for long. You can opt for doing transactions without OTP till Rs. 2,000. Obviously I have not opted for it due to security reasons.

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