Just a day after launching its toll-free number service, Paytm has added another layer of security in its wallet app. Following the demonetization, as the whole nation is moving to a cashless economy, the importance of virtual wallets has increased drastically in our life. And, Paytm is one of the most famous services in the country to offer virtual wallets and easy payments to any other user.
As we are moving to a cashless economy, people are also started to worry about the security of the transactions. In a time when the access to the virtual wallets apps installed on your phone is just a tap away from the unauthorized access. Just a single unauthorized access to your phone which contains the wallet app could lead to a major loss. Anyone who has access to your phone could make a transaction from the Paytm app and can empty your wallet.
Therefore, Paytm has just added a secondary layer of security on its wallet app to keep the unauthorized access to the app at bay. However, this security feature is currently available for Android users only and will make its way to iPhone users in coming weeks. Although Paytm hasn’t made this security feature mandatory but we would recommend you to put it on always.
To add this feature, first update your Paytm app and tap on any wallet options showing on the app in a blue strip. On tapping, a pop-up will provide you an option to setup this security feature by adding a PIN, Pattern or Password. Smartphones which feature a fingerprint scanner will also see an option to unlock the app by the fingerprint scanner. You can disable this feature anytime by going to “security settings” option inside the app.
Paytm has also added another feature “Nearby” which shows you the stores around you who accepts payment through Paytm. All these new features are a welcome change from Paytm which will make the online transactions more secure and easy.