As the title says, would you trust paytm with your personal data?
Why only PayTM?
Almost all apps uses personal data in one way or another. In fact there is a popular saying “Digital/online privacy is 100% a myth”
Yes… I do trust PayTM with my data. I like the idea of a homegrown FinTech company that is successful. I like the PayTM app as it looks good and is fast in UPI transactions and has a negligible failure rate. I always enjoy paying through the app as it is quick. The app also has a nice aggregation of all my bank accounts where I can check my balances in a single page using UPI balance check. PayTM SoundBox is a cool practical solution. PayTM Payments Bank is also good. PayTM money may be the biggest retail push towards mutual funds in the country. Not to mention they single handedly made QR codes so popular in India before UPI. So yes I like the company and I trust them.
Coincidentally I was researching Zerodha Coin vs PayTM money for my mutual fund investments and almost all of the people are against trusting PayTM.
@monologuing May I know why this question now?
Well, mainly because i saw some people raising security concerns regarding it in Quora. As, apparently, when they make a purchase through paytm, they get adds related to it. Which was concerning indeed. Also, Paytm allows the integration of ABHA a Digilocker. So ya, i was curious what people here thought about it.
But isn’t this true for Amazon and Flipkart as well. I am not supporting or normalising it. But I think it’s the norm in online ads networks. For example: I’ve seen phones on all ads where ever I go online after I do a search for phones on Amazon or Flipkart.
Paytm never trusted bro, previously many times Paytm sell data , you can search for more details on internet, payment can do everything for their profits, payment don’t check everything like your KYC… Paytm want all access like digi locker health profile, sms everything…
Thanks @sani Guess I need to relook into PayTM.
On a related note, I have been seeing a lot of promotional articles on PayTM from a lot of news websites. The problem is that it is apparent that’s it’s promotional content. But it is not marked the same on these websites. Gives you a bad feeling.
Having used it for a long time, I believe that not all these data needs to be provided in order to use the app. While some additional features may require data for their functionality, but the decision to provide that data ultimately rest with the user.
I don’t trust Jupiter either. I don’t use the account aggregator feature for that reason.
With Jupiter, my relationship is transactional — I’ll use what I need (Pots) and that’s it. The only time I do anything with Paytm is paying through their gateway for some other (non-Paytm) service.
Not mandatory, but some innocent people giving all access to Paytm, even many users give their Google account access to some random app and website… It’s too much harmful
Aggregator using safe, but giving aggregator permission via some 3rd Party like Jupiter wealth services, fi , or some not good.