India’s Paytm announces toll-free mobile number to serve offline users

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India’s Paytm app, which recently reported more transactions on its platform than all plastic cards combined in the country, has found a way to further bolster its reachability. 

The ecommerce player announced Wednesday a toll-free interactive voice response (IVR) number that users with any kind of phone — be it a feature phone — can dial in to make use of Paytm’s digital wallet service. The toll-free number for the IVR service is 1800-1800-1234.

When a user dials in the number, they are asked to create a security code (Paytm PIN), which once set allows them to enter the registered mobile number of the person to whom they wish to send money.  Read more…

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Paytm suspends POS app a day after release due to security concerns

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India’s Paytm has withdrawn its POS app a day after it was released amid security concerns. 

Paytm released a new point-of-sale app dubbed Paytm POS to much fanfare on Wednesday, addressing the inadequate availability of POS machines in India. Founder Vijay Shekhar Sharma was expecting over 10 million downloads of Paytm POS app by the weekend. 

However, the ecommerce company announced last evening it is rolling back the app, a decision it reached after talking with several stakeholders and realising its app needed to be more secure. Shortly after its release, payment network giants MasterCard and Visa had flagged privacy concerns in how Paytm POS app was handling user details.  Read more…

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