Beware of Paytm spoof app! How to save yourself from fake Paytm app
Watch out for Paytm spoof app! Paytm merchants and shopkeepers must beware of Paytm spoof app.
With digitalisation and online payments getting a boost in recent times, merchants in the country have partnered with several digital payment applications to make the process easier. Some of the most prominent applications that are being used for making online payments include Paytm app, Google Pay app, PhonePe app, among others. People use these applications for a secure payments experience, but due to the increasing number of digital payment frauds it is very important for merchants and shopkeepers to stay alert. According to the information provided by Paytm, the company has come to know about a fake Paytm app, which gives a false payment confirmation page. Paytm said, "It has come to our notice that a video on social media is doing the rounds regarding a Paytm Spoof/look-alike app, which gives a false payment confirmation page."
This fake Paytm app payment confirmation page is being used to fool merchants. The company has around 23 million merchant partners and in order to ensure that they stay safe from these kinds of frauds, Paytm has said that there are several ways by using which merchants can do verification of payment receipt whenever a customer does a transaction. "Our merchant partners... are a testimony to the fact that with Paytm they have several ways to ensure payment receipt whenever a customer does a transaction," the company said.
The following ways can be used by the merchants to ensure payment receipt:
1. SMS notifications
2. In app notifications through Paytm for Business App
3. Paytm SoundBox
Using the ‘Paytm for Business' App, merchants can check the details of every transaction, download daily or weekly reports and also gain access to vital business information like estimated time of bank settlement, among other things.
Paytm Soundbox gives instant audio confirmations for payments. It can be noted that the SoundBox supports vernacular languages, which means that merchants across the country can just use the audio device to get payment confirmations.
Paytm Soundbox supports payments on Paytm QR codes through multiple payment methods – Paytm Wallet, Debit and Credit Cards, Net Banking and BHIM UPI. It not only helps the shopkeepers avoid any actual hand-to-hand transaction of money but also, small merchants with feature phones do not need to depend upon SMS confirmations.
Therefore, merchants or shopkeepers using Paytm do not have to rely on just customer screenshots and can instead get their own confirmations. They should also watch out for the confirmation ticker on the Paytm App.