Payment networks Visa and Mastercard raise concerns around Paytm in-app PoS feature
Visa and MasterCard have raised concerns over Paytm latest launch of Point of Sale feature in their app. Which enables trades to accept payments from users by putting in their card details onto the merchant’s Smart phones.
Due to lack of cash PayTm is growing rapidly nowadays and we can well see PayTm tags almost everywhere outside the major outlets. Which is a huge concern for Payment network majors like Visa and MasterCard.
Nowadays, the digital payments company has been one of the biggest beneficiaries after 500 and 1000 rupees ban. “And now Mastercard and other network holders have raised such concerns on the explanation launched by Paytm from quite a few perceptions including safety and security”.