Paytm suspends ‘App POS’ on data security concerns

PTI reports:

Mobile wallet company Paytm has suspended its app that allowed small shopkeepers to accept payment through cards amid ongoing cash crunch, citing risks to customer data and privacy. The new feature was designed to eliminate the need for a physical point-of-sale (PoS) terminal or a card swipe machine, instead helping small shopkeepers use their smartphones to facilitate the transactions. However, soon after launching ‘App POS’ with much fanfare this week, Paytm rolled back the initiative after concerns were raised over security of customer’s card details by the industry.

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