Paytm Incorporates Advanced AI-Driven Security Measures
The Noida-based Indian eCommerce payment system and digital payment platform Paytm, recently revealed that it is incorporating advanced AI-driven measures to ensure security, maintain and safeguard transactions and protect from fraudulent activities.
The recent feature analyses advices the user to uninstall ‘rogue’ apps on the customer devices that might trigger fraudulent transactions. The company is also using AI technology to detect suspicious transactions. Based on the detection the platform slows the payment process or completely blocks the transaction. No further transactions would proceed unless the fraudulent is uninstalled.
Satish Gupta, MD & CEO of Paytm Payments Bank, "This security feature will scan the apps installed on the user device and will pop-up a security alert whenever a dangerous app is found that may put the users' accounts at risk."
"A large number of our users have welcomed this move. We have already seen cases where these features have stopped attempts to defraud our customers," Gupta added.
With a proficient and dedicated team of nearly 200 cyber security specialists and industry experts the company ensures end-to-end security of every user transaction. It is closely working with telecoms, cyber cells, state and central cops to identify, prevent and acknowledge the fraud transactions and immediately report to the company.
The bank has reported a list of 3,500 mobile numbers involved in SMS and call scams to authorities. It has also filed an FIR against the criminals with the Cyber Cell for an immediate action to stop the activities.