Paytm And HDFC Ergo Launch Cyber Fraud Insurance Cover upto Rs. 10,000
With the introduction of the Unified Payment Interface (UPI), online payments have become quick and convenient. However, the success has also been a boom for innumerable frauds in online transactions. Considering the rise in UPI fraud in India, One97 Communications, the parent company of Paytm, has launched "Paytm Payment Protect" in collaboration with HDFC Ergo General Insurance.
The group insurance plan named ‘Payment Protect’ was put forth to ensure safe UPI (Unified Payments Interface) transactions across all applications and wallets. With this plan, Paytm users can insure transactions up to Rs. 10,000 in exchange for a minimum premium of Rs. 30 or more annually. Additionally, the transaction of Rs. 1 lakh and above may also be covered in the future.
You can buy a ‘Payment Protect’ insurance plan can be purchased through the Paytm app. All you need to do is search for the plan in the application, enter the required details such as your name, mobile number and proceed with the payment. to secure yourself against fraudulent cyber crimes.
Aside from this, you can also browse the official website of HDFC Ergo General Insurance for detailed information regarding the features and benefits, terms and policies, and other information regarding the policy.
The fintech company, in association with the top leading insurance companies, will revolutionize the digital payment experience for customers and increase the adoption of UPI payments in India by winning the trust of the users.
Talking about the same, Bhavesh Gupta, the CEO of Paytm, stated that the strategy aims to protect users and overcome cyber crimes in India. In addition to this, Prathanil Ghosh, President of HDFC Ergo General Insurance, said the ease and convenience of using UPI and wallets render people more vulnerable to online fraud.
Paytm is a Noida-based company that is certified as the largest digital payment and commerce company by the India Brand Equity Foundation (IBEF). With the launch of the “Paytm Payment Protection” plan, the company is all set to transform the experience of using UPI for its customers.
