The Indian ecommerce and payments platform stated in an official blog that it has “decided to add additional certifications and features before making it available to merchants” to make the service more secure and safe. The company added that it “will re-launch this product as soon as we have updated the product”.
Soon after Paytm launched India’s first in-app POS allowing all small and medium merchants to accept all card payments including Rupay, Visa, MasterCard and Maestro, several payment networks reportedly raised security concerns regarding the safety and security of the POS feature, including the underlying loophole of the potential misuse of a card bearer’s data.
In another development, Paytm’s parent company, One97 Communications and its founder Vijay Shekhar Sharma have collectively invested USD 32 mln in Paytm Payments Bank, ahead of its launch that has now been pushed towards early 2017, Inc 42 reports.
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