Your Paytm Wallet Money Is Not Safe

Paytm Wallet lacks Transaction Authentication features. Anyone with your unlocked phone can steal your Paytm Money.

Your Paytm Wallet is unsafe because it lacks basic critical security features. (Photo: The Quint)

So you panicked just like everyone else when ATMs ran out of cash, and thought your life would come to a standstill. You cursed the government a little but lauded PM Modi’s guts to demonetise currency notes and eradicate black money from our system. You read some reports, saw some news channels tell you how all this is for a good cause. You paid heed to the full page advertisements, radio jingles, colleagues at work and WhatsApp forwards from mamaji and fufaji and finally decided to install those digital wallet apps like Paytm, Mobikwik, Freecharge.

Congrats on going cashless and downloading that ‘new-age’ digital wallet app. You have transferred anything between Rs 100 to 20,000 and are now navigating the app for the closest chaiwala, pizzawala or daaruwala to pay with your new cashless digital wallet. Abhi Toh Party Shuru Huyi Hai you sang! Life looks rosy in cashless land! Mubarak ho! It is really quite convenient.

But. But. But.

Have you thought for a moment about the safety of these digital wallets? Ooops! Drink a glass of water, hold on tightly to your phone, and watch the video.

Video Editor: Mohd Ibrahim