New Paytm plans for you: Protect money from fraudsters - Details here

Not just saving you from fraud, soon Paytm Money will even enable you to trade in shares. According to a report by Mint, Paytm Money is planning to offer shares of listed companies to customers on its platform. For this, the report said, Paytm would likely submit its application to either of the two top exchanges - BSE and NSE. The report comes weeks after Paytm Money started an app to offer mutual fund products to customers. Over 1 million customers have registered for the service.

Meanwhile, the digital payments company is also testing a new "Face Login" feature on its Android beta app. This will help save customers from fraudsters. 

Paytm owner One97 Communications said the new feature will enable users to log in to their app by simply looking at their phone. This feature will be an important security update for Paytm users that is designed to prevent phishing attacks by providing an additional security layer of biometric security, an official statement of the company said.

"Our team is currently working on enhancing our proprietary algorithms to make it more intuitive for users. This will make accessing Paytm account even simpler and faster, prevent phishing attacks and offer instant access on the go," Deepak Abbot, Senior Vice President-Paytm.

Paytm has tested this feature extensively with over 10,000 distinct faces and witnessed nearly 100 per cent accuracy. To achieve this, the app maps over 200 distinct parameters on the human face for high accuracy.

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According to the digital payments app, over five million offline merchants accpeted digital payments through Unified Payments Interface (UPI).