Paytm rolls back card swipe feature, just a day...

Paytm rolls back card swipe feature, just a day after launch

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Paytm rolls back card swipe feature, just a day after launch

A day after launching an in-app PoS (point of sale) feature, Paytm rolled back the service as customer data privacy and security issues were raised by payment network majors MasterCard and Visa. Paytm’s in-app PoS was intended to let merchants accept payments from consumers by putting in their card details onto the vendor’s smartphone. Senior executives at payments companies that TOI spoke to on Thursday said they’d raised a red flag and said possible misuse of users’ card details emerged as a glaring problem with the new service.

http://www.gadgetsnow.com/tech-news/Paytm-rolls...
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10 Comments  |  
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how can we go digital…. we need cashless economy…. we need to greet each other via tele conferencing only no personal meetings
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desidude2013 wrote:

how can we go digital…. we need cashless economy…. we need to greet each other via tele conferencing only no personal meetings

:-?

If you go on personal meetings, you will become less cash instead of cashless.

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Plato wrote:

If you go on personal meetings, you will become less cash instead of cashless.

now the main target of BHAA JHAA PAA (BJP) is only cashless transactions…
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DealSeeker wrote:

It’s a matter of getting “certifications”. Card networks didn’t like Paytm bypassing their money-minting POS setup. That’s all.

They again resumed POS app now. http://www.livemint.com/Industry/Qm33pGwIhoFJFS...

But who likes to enter 16 digit card number + other details. Very inconvenient. Especially for small retail stores. Why don’t they offer card readers to merchants (just like square) as they are very inexpensive.

https://cdn0.desidime.com/attachments/photos/78044/medium/square-card-reader.jpg?1480226130

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Kakinada wrote:

They again resumed POS app now. http://www.livemint.com/Industry/Qm33pGwIhoFJFS...

But who likes to enter 16 digit card number + other details. Very inconvenient. Especially for small retail stores. Why don’t they offer card readers to merchants (just like square) as they are very inexpensive.

IMG: https://cdn0.desidime.com/attachments/photos/78...

Once you introduce a new hardware piece, it’s a different ballgame altogether — think of the compatibility and support issues. This is probably why they wanted to keep it completely app-based. Also, as I have mentioned repeatedly, the issue with entering the card details manually could easily be solved by scanning the card via camera (Payzapp already has this).

Moreover, Vijay Shekhar Sharma has confirmed what I have been saying since the beginning.

Sharma replied in the affirmative when asked to confirm again if the facility is indeed live. He asserted that the security risks which the PoS offering poses are the same as the card’s use at a physical merchant where the card details can be copied.

CC @VaibhavJain @Thesamr

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DealSeeker wrote:

Once you introduce a new hardware piece, it’s a different ballgame altogether — think of the compatibility and support issues. This is probably why they wanted to keep it completely app-based. Also, as I have mentioned repeatedly, the issue with entering the card details manually could easily be solved by scanning the card via camera (Payzapp already has this).

Moreover, Vijay Shekhar Sharma has confirmed what I have been saying since the beginning.



CC @VaibhavJain @Thesamr

Arey bhai shanti kaayam rakhe.
Vijay Shekhar Sharma ek ameer launda hai aur wo apni tikdam chalwa lega.
Baaki maine Modi ji ko bola hai jaldi settle karo, apne ko locha nahi chahiye. https://cdn1.desidime.com/assets/textile-editor/icon_biggrin.gif

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Bro it’s that gadget or machine launched??

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