Below is my first hand experience with PayTM. I thought of putting it up in a blog post to ensure it reaches out to Indians and common men aren’t fooled by organisations like the PayTM to decietfully get their biometrics.
It all started when PayTM restricted fund transfers from my account abruptly from April 2018 without any prior intimation to me and forced me to KYC. This was inspite of the fact that no services can be barred if Aadhar isn’t linked.
I updated my KYC details online and they sent an employee to my residence for what I assumed to be a Process of inspection of my original documents and collection of necessary photocopies. However, they sent the employee with a fingerprint capturing device and wanted me to provide my thumb and fingerprint information to them.
When I objected that I can’t be forced into providing my personal biometrics when it isn’t mandated by government or our Supreme Court, like a typical sales guy, the PayTM’s employee started selling their position that the data will remain safe & secured, many other customers have already provided their biometrics and why I should, like them, also opt for it.
After some discussions when his persuasions did not work and he was convinced that I won’t be falling for his or PayTM’s tricks, he called his manager and they promised that they can get a form filled & take some photocopies to complete the formalities of KYC. Surprised that I wasn’t informed or provided this option earlier, I pointed this out to the guy. Nevertheless, I agreed.
The guy promised to revisit my place next day again for the formalities. It has been 4 days now and he hasn’t arrived, which is still, to an extent, fine. I am hopeful that PayTM will complete this task, albiet slowly.
– Gaurav Satle, Mumbai
With the above experience, I wish to highlight some concerns:
- PayTM’s forceful bar on it’s customers (I am sure there are many customers like me) and not allow them to pay money from their PayTM wallets or transfer funds is highly inconveniencing. It’s rendering common people like me powerless as if they didn’t have any money in their wallets.
- Smartly, PayTM is still allowing credits or transfer of funds to the PayTM account but disallowing any debits. It’s as if they want the money to trickle in but not to leak out of their ecosystem. This is a very mean way by PayTM to make money.
- PayTM’s assumption that people will opt for (providing) biometrics at their behest without showing the terms and conditions to it’s customers or undertaking an agreement is unethical, unprofessional and decietful. This raises questions on PayTM’s integrity.
- Not providing it’s customers the option or the mandatory information that there is an alternate way of completing KYC formalities (document based KYC) is like forcing it’s customers to supply PayTM with critical, sensitive information like a customer’s personal biometric details. This is a treacherous way to scheme their customers into a PayTM trap. It’s highly deplorable.
- PayTM’s lack of preparedness to make it’s employees carry all relavant forms or docs during verification for customers not willing to divulge personal biometrics and those willing to opt for document based KYC is careless and very unprofessional on PayTM’s part.
I only wish more and more people become aware of PayTM’s wrong-doings for their “forced” KYC process involving biometrics. I personally wish that PayTM’s customers DO NOT opt for biometrics with PayTM and that no one is fooled by PayTM.
Questions are already being raised on why PayTM is asking it’s customers to provide Aadhar details as proof.
I also hope we, Indians, are aware of how dangerous it can be for PayTM or any other forms including the governement, if their personal biometrics fall in wrong hands. We need to ensure we aren’t victimised by the loopholes within our flawed policies & system. Sadly, there are many!