After upgrading its app to allow it work on feature phones, Paytm has now introduced password (PIN)/finger ID protection for its e-wallet.
Call it The Quint impact: We had highlighted the lack of this security feature in a recent video. The video kicked off a Twitter storm and went viral. In fact, Paytm founder and CEO Vijay Shekhar Sharma acknowledged The Quint’s concerns in a tweet on Friday, when the feature was unveiled.
The company announced the introduction of the security measure in a blog on its website.
We are launching an app password for your Paytm wallet. So if you lose or misplace your phone, your Paytm wallet remains safe. This app password feature is currently available in the latest Android app.Paytm
Safety Feature in Paytm
- The Paytm app will use your phone PIN/fingerprint ID for secured access to make payments
- Update your Paytm app (from Google Playstore) to get this feature for your account
- This feature is only available to Android users right now. Coming soon for iOS folks as well
Now your Paytm wallet is protected even if you lose or misplace your phone. If someone doesn’t know your personal PIN/pattern, then they won’t be able to send money or see your passbook.Paytm
Earlier this week, Paytm also rolled out a toll-free number service, which allows users without internet access to send and receive money.