 "paytm, e-commerce")
Online marketplace major Paytm has said it would provide insurance cover for the money stored in its e-wallets.
Money lost due to fraudulent transactions as a result of theft, burglary, loss of device or unauthorised access to the user’s Paytm wallet will be refunded. This cover is at no additional cost.
The ministry of electronics and information technology (MeIT) had recommended to e-wallet and insurance entities to work in tandem in this regard. It had initiated talks in January this year.
“All customers will be insured up to a limit of ~ 20,000 or their wallet balance,
Money lost due to fraudulent transactions as a result of theft, burglary, loss of device or unauthorised access to the user’s Paytm wallet will be refunded. This cover is at no additional cost.
The ministry of electronics and information technology (MeIT) had recommended to e-wallet and insurance entities to work in tandem in this regard. It had initiated talks in January this year.
“All customers will be insured up to a limit of ~ 20,000 or their wallet balance,
