Tag: Paytm

Paytm Payments Bank Ltd implements AI to identify fraudulent transactions

Paytm Payments Bank Ltd (PPBL) has added a new feature of artificial intelligence that analyses “rogue” apps on user devices that may trigger fraudulent transactions and advises users to uninstall such apps. No transactions will be possible until the user uninstalls that fraudulent app.

The bank has a dedicated team of over 200 cybersecurity experts to ensure round-the-clock security of every user transaction. The teams closely work with all State and Central police forces and cyber cells as well as telecom companies to detect, prevent and report fraudulent transactions for immediate action.

All-in-one QR for merchants launched by Paytm

Digital payments firm Paytm announced the launch of its all-in-one QR for merchants across the country. This QR will enable merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI-based payment apps directly into their bank account at zero per cent fee. The platform offers a single reconciliation of all payments through its ‘Paytm for Business’ app.

Owned by One97 Communications Limited, the mobile wallet company currently enjoys 54 per cent market share of mobile payments for merchants. The all-in-one QR is a must-have business tool as it is only payment QR that allows merchants to accept payments from Paytm wallet, all UPI apps, and cards. The new smart device for payment processing ‘soundbox‘ is one of the QR merchandise that allows the merchants to hear confirmation of payment receipt, which supports all payment modes and multiple languages.

CSC and Paytm Payments Bank signs MoU for sale of FASTags

Common Service Centres (CSC) e-Governance Services India has signed a memorandum of understanding with Paytm Payments Bank Ltd (PPBL) for sale of FASTags. The agreement will facilitate the sale of PPBL FASTags through the last mile network of 3.6 lakh CSCs, helping realise the government’s vision of cashless and smooth transit at all toll plazas across the country.

FASTags which work on Radio Frequency Identification (RFID) technology have been made mandatory at toll gates on national highways. The FASTag process allows toll payments directly from the prepaid or savings account linked to it, thus doing away with the need for waiting in queues, saving time and fuel.