Paytm is one of best wallet app in india. Paytm has the largest number of users as compared to other wallet apps. Paytm provides a long list of features from paying bills to booking trains, airplane tickets.
After the demonetisation of Rs. 500 and Rs. 1000 notes, wallet companies have been seeing a huge surge in signups, and a number of people have started to worry about the security of these apps.
With a recent update app Paytm app update and announcement , Paytm has added another security layer .
Now it allows you to set up a pattern,pin, fingerprint password on wallet transactions.
How It Works - Suppose that you are you are doing recharge or paying for any other thing . Before you make your final payment you will be asked for pattern/password/fingerprint unlock and then your payment will be done.If you want to check your Paytm passbook then it will ask for password.
This security feature is optional and you can disable it from features. This feature will be helpful in cases when give your phone to friends or in case if it is lost and someone try to do any type transaction using the wallet money.
How To Enable
1. Set the Phone’s default Android security password if not already done. Go to your Phone’s Settings > Security > Screen Lock > Choose Screen Lock. You can select Pin, Password, Pattern or Fingerprint to protect your phone.
2. Open the updated Paytm App & click on “Pay” or “Passbook”. You will be prompted to enable this optional feature. If you are not logged in then you will be asked to login first to enable this App password
3. Click on Add Security Feature. You will be asked to reconfirm your Phone’s Pin/Password/Pattern/Fingerprint depending on what you selected as your default protection. Once confirmed, your new App Password is now set
4. Now next time when you click on “Pay” or “Passbook”, you will be prompted to input your App password you have just enabled.
5. In case you do not want to use this feature anymore, you can disable it as well. To disable, open Paytm App, Go to Profile > Security & Settings > Android Security Feature > Slide it off. You will be prompted to reconfirm your Pin/Password/Pattern/Fingerprint to disable it.
This security feature is only for Android users at present - though fingerprint security is coming soon for iOS, the company confirmed.