People are rapidly switching to digital payments, as they provide simple, safe, and convenient ways to transfer money across accounts. For merchants, acceptance of payments in digital form has also increased significantly. They have taken up digitisation beyond merely accepting digital payments. Digitisation is helping merchants in other aspects of their business like credit, invoicing, maintaining ledger/accost, bookkeeping, etc., thus helping their business grow further.
We offer new-age digital banking services to our consumers and merchants to take full benefit of it while assuring them complete safety and security. We offer several products to our users like savings account, debit and ATM card, Paytm Wallet, and more. However, with the rise in cybercrime cases worldwide, it is important that users also take necessary steps to avoid becoming a victim of fraudsters. Here are some tips that our users can follow for our various products.
Savings Account: You should never share your password, passcode, M-PIN, PIN, CVV, or OTP with anyone despite their claims to be speaking from any bank, even from Paytm Payments Bank. You can Register for instant alerts (both SMS and Emails), to remain up-to-date with your bank account transactions and keep an eye on your bank statements for any irregularities. Also, beware of “too good to be true” deals seeking your account details for verification or for sending free gifts, prize money, etc. Do not let your bank account be used by anybody else for receiving and transferring their money in exchange for an attractive commission or for the sake of goodwill.
Debit Card: Do not share your Card Number, CVV, Card Expiry Date, ATM PIN or any OTP with anyone even if they cite urgent reasons like card getting expired, we never ask for such details. Do not write down your 4-digit ATM PIN anywhere including the card itself, memorize it instead. If you find anything unusual with the ATM (e.g. the keypad or the card reader slot appears too thick or looks added-on), cancel the transaction and step out of the ATM.
Paytm Wallet: Never share your password, passcode, or any OTP with anyone; even if they cite urgent reasons like wallet activation, reactivation, limit upgrade, KYC, free cash back, etc. Do remember that we never ask for such details. Send money to someone whom you know in person. Also, before initiating the transfer, cross verify the payee details. You should set a strong and unique password and also protect your phone with a PIN or a pattern lock. If you feel that your Wallet password got revealed to someone, change it immediately.
Net Banking: Do not share your password, passcode, M-PIN, PIN, CVV or OTP with anyone. Always use a secure browser connection (https://) while entering your personal and financial details.
Some more safety and security tips
Keep your PAN, Aadhar, and other KYC details private and be aware of how your information would be used by a company, website or mobile app.
Always attest your KYC photostats for verification, with date and purpose clearly mentioned on them in a strikethrough manner.
Shred any unimportant piece of paper (like photocopies, photographs, bills, payslips) having your identity or financial details that can be used to impersonate you.
How to report a fraud
If you have been a victim to a fraudster you can report the same to us. To lodge a complaint regarding any fraudulent transaction on your Bank Account or Wallet you can reach out to us via our helpdesk or 24×7 support on the Paytm App. Our IVR help desk number is 1800120130 while to contact our 24×7 Customer Care you can dial 0120-4456-456.
Take caution to be safe from cybercrime
With a boost to mobile payments and banking services, cases of cybercrime are also on rise. To ensure you do not fall into the trap of fraudsters and cyber criminals, it is very important that you follow certain safety and security tips. As we offer several banking services and products, we have provided you with some useful tips that you can follow to ensure financial safety.