India’s Paytm is further protecting its digital wallet for users. On Thursday, the company said it was rolling out an app-level password feature for Paytm Wallet. Once enabled, a user will need to access Paytm Wallet and enter their passcode before sending money. For the feature currently available exclusively in the Android app, a user must first turn on the minimum security on their phone and then update the Paytm app. This is a security alert feature. Although the company is positioning it as a continuing focus of this new feature to make Paytm services more secure, this rollout will come days after several users have identified a potential vulnerability to Paytm. Many noted that some users are reluctant to hand over their unlocked smartphones to their friends or even strangers in some cases. It will potentially expose their phones to anyone who may abuse Paytm (if it is an application installed). Furthermore, there are many users who have no passcode on the phone, making it possible for anyone to hold the device and use Paytm. The company said it would soon launch a similar security option on Paytm’s iOS app. Digital wallet applications have been spreading in India lately in the wake of the country’s massive demonetization measures. Applications such as Paytm and MobiQuick have struggled to get billions of paper bills, suggesting an increase in astronomy in transactions and new downloads. Companies are shaking up new ideas to tap the countries larger under invested market.
Steps to recover the forgot password in Paytm
- Click the “Forgot Password” button on your login screen to reset your password.
- You dial 0120-3888388 using the phone number you registered with Paytm, then press “1” to reset your password and follow the instructions.
- User will receive a link to reset the password via SMS or email.
- Click on the Paytm link sent to your phone or email.
- Enter a new password (remember this time).
- In the Password field, type the new password.
- Confirm your new password and click “Submit”.
- You now can access your account again. Make sure you take the appropriate steps to remember or log your password!
Full Instruction for Reseting the forgot Paytm Password
For resetting the forgot Paytm password, go to the ‘Accounts’ section at the bottom of the page. Click ‘Forgot Password’ on the login page. Enter your registered email address or mobile number and click ‘go-ahead’ enter the OTP sent to your mobile number and click ‘submit’ or you can click on the link sent to your email to reset your password with the OTP user authentication one. Safe and convenient form. This protects you against common financial frauds, but prospect fraudsters are looking to put their hand in your OTP. Do not share your Paytm OTPs with anyone, especially over a call, SMS or email.
Here’s a catch though an OTP is a convenient way of authentication, and it’s important that you never fall into the trap of cheating and sharing your OTP. The combination of your Paytm registered mobile number and OTP or card details and OTP can be used in a variety of ways. You must not share it with anyone, even if the person is a Paytm or Paytm Bank employee, customer care employee, bank employee, Paytm agent, Paytm KYC agent, RBI official, income tax officer or even share with anyone.
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Basic Information on Paytm Password forgot
To add money to Paytm Wallet, Paytm never takes anything from you. This is because they allow you to pay into your wallet to pay their merchant partners. There is a charge for loading money on Paytm Moneybags. But Paytm does not actually charge customers for loading charges. Paytm now absorbs that cost. And once the merchant’s partner is paid out of the Paytm Wallet, the merchant partner carries on. And thus customers never have trouble adding money to Paytm. And basically, it helps paytm get more customers on board, Paytm doesn’t ask for your ATM PIN and it doesn’t store it. Whenever you make a payment or pay with Paytm debit card, you need to type in your card number, the name displayed on the card, expiration date and CVV no. It is sincerely asking for your own bank ATM PIN so it can approve the current payment. Paytm does not ask for or store your ATM PIN. Whenever you make a payment or pay with Paytm debit card, you need to type in your card number, the name displayed on the card, expiration date and CVV no. Paytm will ask if you would like to store the card credentials that comprise the above information. When you enter these details, you are directed to the Bank’s payment gateway. Most of our Indian Bank payments have been securely verified from various companies, such as Gateway Verification. Not too little Indian Bank’s Payment Gateway asks for your ATM PIN to approve the payment. It is sincerely asking for your own bank ATM PIN so it can approve the current payment. So Paytm doesn’t even come into the picture. So the payment is very secure as you are dealing with your own bank.
The company hopes to more enthusiastically demonstrate the initiatives that citizens have faced with serious difficulties, but is making no effort to hide that it is constantly capitalizing on this new development to help improve and create new features that make cashless easy conversion for customers. The latest one has added the ‘App Password’ feature to its Android mobile app his It will enable Paytm users to set a secure PIN, password, pattern or fingerprint to ensure money in Paytm wallet is protected even if the owner’s phone is lost or misplaced. Is done Users can set their phone’s default Android security password by using the ‘Security’ option in the ‘Settings’ menu. So, once you click on ‘Pay’ or ‘Passbook’ in your updated Paytm app, the app will ask you to enable this feature.
“The protection of our customer’s money is very important to us. Introducing the new app password feature is another step in that direction because even if your Paytm wallet is secure, you lose or misplace your phone. Not only can this satisfy our 440 million strong user-base minds but it will also serve as a demonstration of our unwavering commitment to our customers, “says Deepak Abbott, senior vice president of Paytm. After clicking on the ‘Add security’ option the app will want to confirm your phone password and then allow you to set your new application password. Users can choose to disable this security feature by switching the ‘Android Security’ feature in the ‘Security & Settings’ menu of their Android app.