Google Pay India sharing payments data with group companies and third parties: Paytm

This is not the first time Paytm has called out an international firm over data and payments issues.

Vijay Shekhar Sharma-owned fintech major Paytm has alleged that payments platform Google Pay is violating guidelines by sharing data with its group companies and third parties, and also using it for advertising purposes.

Google Pay’s privacy policy states it collects, stores, uses, and discloses users’ personal data for advertising and promotional purposes, Paytm claims in its letter to National Payments Corporation of India (NPCI).

Google Pay India

“We would like to highlight a very important fact that Google Pay, which is an un-regulated payments platform, has the scope of using their customers’ data for their monetary gains with complete disregard of the user’s need for privacy. The critical payments data collected by them is being processed and stored outside of India, which can have severe security implications in case of a data breach as their policy states that this data is also being disclosed with advertisers and third-parties,” reads the company’s letter.

One97 Communications, the company that owns Paytm, said on several occasions it stored as well as processes user data onshore. “India is in the process of drafting its personal data protection bill. Against this backdrop, it is of utmost concern that global companies are sharing Indian users’ personal data among group companies,” the company wrote in the email.

↓↓↓  Read the Full News here  ↓↓↓

Google Pay Payment Data

Paytm crosses 200 million wallet user base

Since demonetisation the company claims to have made rapid strides in the online wallet sector

 

Latest News - Mobile wallet major, Paytm announced today that its user base has crossed 200 million users. The company said that within three years of launching the Paytm Wallet, it has become most widely used and accepted payment method in the country.

Since demonetisation the company claims to have made rapid strides in the online wallet sector by laying stake to the top position. In the last 12 months, the company has managed to launch a variety of offline services, which have increased the usage of phones at various points.

Paytm wallet has moved from just mobile phone and DTH recharges, electricity, gas and water bill payments, to using it at milk booths, grocery stores, pharmacies and parking among other places.

"Reaching 200 Mn registered users and more than half a million users on a daily basis is a great showcase of the country's trust in our payment solution and reaffirms our belief in the need for a quick and easy cashless payment method. Going forward, we would continue to drive strong consumer-focused innovation in the category to reach the widest set of merchants and consumers in India," said Deepak Abbot, senior vice-president.(read more...)

Paytm launches online marketplace app - Paytm Mall

Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers

 

 

Breaking News : Paytm E-commerce on Monday announced the launch of its new Paytm Mall application on Android.

Paytm Mall aims to offer a combination of the Mall and Bazaar concepts to Indian consumers.

"Only trusted sellers passing strict quality guidelines and qualification criteria will be allowed on the 'Mall'," Paytm said in a statement here.

All products listed on the mall will also go through Paytm certified warehouse and shipping channels ensuring guaranteed consumer trust, it said.

"We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Consumers would continue to get the largest assortment of domestic and international products through Paytm Bazaar, which will also be featured on the new app," said Saurabh Vashishtha, Vice President - Paytm.

The Bazaar is an unstructured shopping channel on Paytm that will also be featured on a new application, it added.

Paytm Mall has over 17 fulfilment centres across the country to offer consumers an efficient online shopping experience.

The platform would also offer sellers the widest reach through its vast network of over 40 courier partners, it said.

The Paytm Mall would also launch an ungraded version of the Paytm Seller app, available in 7 regional languages allowing anyone with a smartphone to set up an online shop on Paytm Mall.

Paytm Mall is available on Android, and lists over 68 million products sold by 1.4 lakh sellers spread over 1000 cities and towns across the country. The iOS app is expected soon. (read more...)