India’s largest Mobile wallet company Paytm today introduced Insurance cover facility for its users to safeguard their money in the Paytm wallet.
As per the information published on companies blog, Paytm said,
All Paytm users with balance in their wallets would be automatically covered under this scheme at no additional cost and the lost money would be refunded to their Paytm Wallets.
Paytm customer with money in their Wallet up to Rs. 20,000 can claim the insurance, in case loss of paytm wallet balance caused by fraudulent transactions resulted by stolen mobile phone, burglary. The insurance cover is only applicable if user’s login and password details are not shared with anyone.
To claim the insurance, the customer needs to contact Paytm via e-mail or by calling customer Care number +91 9643 979797 about the loss or theft within 12 hours of the incident. The customer also required to file an FIR in the police station where the loss or theft of devices occurred and share the information with Paytm.
If the claim is genuine and approved by Paytm then the amount will be credited back to Paytm Wallet of the customer after confirmation that customer has regained his/her account and password has been changed.