Paytm has added a new feature for its wallet,through which users can password-protect the transactions done. The latest feature is currently available for the Android users.
With the increase of wallet adoption post demonetization, there was a growing scepticism about the security wallet apps among the masses and this move by Paytm seems to be a move to counter it.
Through this new security feature, an Android smartphone user will be required to enter a password, which is the one set for locking the phone, before making any transaction from Paytm wallet. I simple terms it means your phone’s screen lock doubles up as a password of Paytm wallet.
In case, users want to disable this security mechanism, it can be done by switching off the ‘Android Security’ feature in the ‘Security & Settings’ menu in the app.
Recently, the company has also announced a toll-free number 1800-1800-1234 which allows users to pay and receive money without accessing the app itself.