Paytm has launched Paytm Payment Protect in association with HDFC ERGO General Insurance. This institution insurance plan covers Unified Payments Interface (UPI) transactions throughout all apps and wallets. The first-of-its-kind coverage product may be bought for as low as Rs 30 in line with 12 months. Customers can now shield themselves from fraudulent cellular transactions up to Rs 10,000. Soon, the offering can have better protection alternatives for protecting up to Rs 1 lakh yearly.
“To defend customers and combat cybercrime, we are offering coverage insurance with honest claims. Our collaboration with HDFC ERGO aligns with our purpose of raising monetary literacy,” stated Bhavesh Gupta, CEO of Lending and Head of Payments at Paytm.
HDFC ERGO will now use Paytm to promote its price-powerful and all-inclusive coverage answers. Since the pandemic, the usage of UPI and mobile wallets has skyrocketed. “While it makes existence less complicated and extra handy, it also leaves one open to online scams. We are thrilled to work with Paytm since it affirms our commitment to offering modern answers to lessen cyber dangers inside the modern virtual technology,” stated Parthanil Ghosh, president of HDFC ERGO General Insurance’s retail commercial enterprise.
According to Ghosh, the large coverage selection and Paytm’s virtual access would sell digital boom, guarantee economic inclusion, and offer nationwide safety towards cyber theft. Recently, Paytm brought UPI compatibility, permitting users to ship UPI bills to any cellular range the usage of any UPI charge app, even if the recipient is not a Paytm customer. Paytm’s purpose is to apply era-driven monetary services to integrate 500 million Indians into the financial system.
How to apply Paytm Payment Protect:-
Step 1: Open the Paytm app after downloading the maximum latest model to your cellphone.
Step 2: In the Paytm app, search for Payment Protect.
Step 3. Type your name and call number.
Step four: Tap the Proceed to Pay button to complete the transaction with the aid of paying together with your Paytm pockets.