Is Paytm Safe? Safety & Security Features

Is paytm safe

Mobile payments and banking on your phone are safe with Paytm. Be it a payment, bill payment, or money transfer, Paytm makes it a breeze to make payments. Paytm is approved by RBI and can used for multi purposes.

Paytm is a secure way to pay. Paytm utilizes top-of-the-line encryption standards to keep your Paytm data well protected. Paytm is recognized by the NPCI.

Using a network of over 10 million merchants and 15 lakh touchpoints, Paytm is a convenient and secure way to pay. Paytm utilizes top-of-the-line encryption standards to keep your Paytm data well protected. 

Paytm ensures the safety of its users at every step. When using your phone to make payments or transfer money, you want to protect your information.

You will notice that whenever you use Paytm, you will be prompted to enter a passcode to ensure your data is kept safe. 

The company employs the following security protocols: SSL encryption, tokenization, encryption key management, secure infrastructure, dedicated infrastructure, advanced authentication, state-of-the-art firewall protection, anti-virus protection, web application firewall, behavioral detection, device hardening, penetration testing, application penetration testing.

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The payments made using Paytm are made via UPI, which means that the money transferred from the Paytm wallet to the bank account is entirely safe. Paytm payments are based on the BHIM payments format, which is the format of the most secure payment used in India. 

In addition to this, Paytm also uses HDFC Bank as one of our partnered banks. HDFC Bank is one of the largest corporate banks in the country and is a well-respected name in finance.

Paytm has filed a lawsuit against India’sIndia’s largest telecom operators in the Delhi High Court, arguing that they are allowing users to access phishing websites posing as official websites, like Paytm, by not blocking numbers accessible via SIM cards.

The lawsuit calls for the operators to be fined ₹100 crores; subsequent litigation for relief under the IT Act.

How to keep your Paytm Account Safe?

Readers may consider the following tips to keep their account safe and secure:

  • Keep track of all official SMS and emails from the Bank and Paytm accounts regarding transactions and login alerts. 
  • Do not share OTPs, Login details, or any other details with anybody.  
  • Update your login details regularly. 
  • Get your SIM blocked if it gets misplaced or stolen. Update your email and mobile number with the Paytm application. 
  • Keep your Paytm application secured with a PIN or biometric identification. 
  • Do not make payments to any fishy websites. Scammers might trick you into any trap. 

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Paytm Controversies 

In 2018, Paytm was accused of sharing its user data with the Indian government. Ajay Shekhar Sharma, the brother of Paytm founder Vijay Shekhar Sharma, was found to have close ties with the Indian government.

The government of India wants me to share the details of Paytm users in the state of Jammu and Kashmir. An Indian media house Cobrapost conducted a sting operation on Ajay Sharma. Ajay Sharma affirmed that he was called from the PM’sPM’s office. According to reports, the data was used for state elections and quell Jammu and Kashmir protests.

The company later denied such allegations. 

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