Paytm Wallet now has insurance cover

Sushubh

Administrator
[OP]
Oct 29, 2004
421,920
13,197
Gurugram
Paytm offers insurance cover for your wallet money - The Economic Times

"This insurance cover on Wallet balance will ensure that the user is covered should there be any misuse of the account. Along with being the fastest and most convenient way of paying, this cover will provide additional comfort and security to our millions of users," said Krishna Hegde, vice president, Paytm. The cover will be commensurate with the wallet balance and will be free to begin with. The wallet platform currently has over 200 million users and is looking to enroll close to 1 crore merchants by the end of 2017.
 

Sushubh

Administrator
[OP]
Oct 29, 2004
421,920
13,197
Gurugram
What will be covered?
Loss of Paytm Wallet balance up to Rs. 20,000 due to fraudulent transactions as a result of theft, burglary or loss of mobile phone/device.
Loss of Paytm Wallet balance by unauthorized fraudulent transactions if the user’s log in credentials weren’t shared.

How to claim your insurance in case of loss of wallet balance due to loss/theft device?
1) Report the loss or theft to us via e-mail at care@paytm.com or by calling our Customer Care number +91 9643 979797 within 12 hours.
2) Lodge an FIR about the loss of the device with the police and share the proof with us within 24 hrs.
3) We will block your Paytm Wallet within 2 hrs. of the incident being reported.
4) We will assess if a claim is genuine. If the claim is found to be genuine, we will ensure the settlement is done within 5 working days.
5) The claim will be settled in your Paytm Wallet after you confirm that you have regained access to the account and your password has been changed.

How to claim your insurance in case of loss of wallet balance due to fraudulent transaction?
1) Report the loss to us via e-mail at care@paytm.com or by calling our Customer Care number +91 9643 979797 within 12 hours. Please give details of the fraudulent transaction.
2) We will block your Paytm Wallet within 2 hrs. of the incident being reported.
3) We will assess if a claim is genuine. If the claim is found to be genuine, we will ensure the settlement is done within 5 working days.
4) The claim will be settled in your Paytm Wallet after you confirm that you have regained access to the account and your password has been changed.
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