Here’s How we are Prioritising Safety & Security, Gaining Users’ Confidence through Safe & Secure Transactions

byPreeti VermaSeptember 26, 2023

Trust is an inevitable part of digital payments. Being a fintech platform, we offer mobile payments and other financial services. It is of utmost importance for us to gain and enhance our users’ confidence. We prioritise safety and security with our latest and innovative technology. For this, we keep introducing safety features like Security Shield, Face ID, passwords, and more that are integrated seamlessly into our app. 

Our commitment to secure our users’ data extends beyond the transactional level. The account details of our users are also 100% secure and we take all possible steps to ensure it stays that way. Our fraud rates or fraud-to-sales rates are also incredibly better. We pride ourselves on safeguarding users’ identities, ensuring that sensitive information remains in secure hands. 

We handle superfast, secure, and reliable money transfers on a regular basis. Our transaction rate is much faster when compared with other similar businesses. Many merchants rely on us to make successful money transfers. We accept payments from Paytm Wallet, Paytm Postpaid, Paytm UPI, net banking, debit and credit cards, and more.

When a Paytm user transfers money using the app, we ensure their mobile number is only partially revealed to the recipient. This not only guarantees our customers full security against any fraud but also protects them from possible harassment and spam calls. Our users can also protect their numbers by creating an alternate or new UPI ID by clicking on the UPI & Payment Settings on the Paytm App.

We also launched an upgraded Paytm payments platform powered by 100% indigenously developed technology to enhance the consumer experience through a much better success rate, speed, and security. The platform can handle 10X payments in India.

To further augment the trust quotient in our offerings, we are investing in Artificial Intelligence with an eye on building an Artificial General Intelligence (AGI) software stack in India. Our founder and CEO Vijay Shekhar Sharma mentioned earlier that Paytm Labs is constantly building various Artificial Intelligence (AI) and big data features. 

He added that he is proud of our Advanced AI capabilities in use and how we are expanding. We are building an India-scale AI system that will help various financial institutes in capturing possible risks and frauds, while also protecting them from new kinds of risks due to advancement in AI. As a technology company, we at Paytm, will be at the forefront of this revolution.

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