Paytm, in association with HDFC ERGO General Insurance, launched ‘Paytm Payment Protect’ in December 2022, in order to insure transactions done through UPI across all apps and wallets.
The offering allows users to protect themselves against mobile fraudulent transactions up to ₹10,000.
Payment Protect can be availed at only ₹30 per annum, according to Paytm.
Also read: Paytm UPI Lite: Know how to set up
How to get Paytm Payment Protect
- Step 1: Open the Paytm app.
- Step 2: In the Home page, tap ‘All Services’.
Also read: How to create private UPI ID on Paytm?
- Step 3: Under ‘Insurance,’ tap ‘Payment Protect’.
- Step 4: Confirm personal details in the next step, and select ‘Proceed to pay ₹30’.
- Step 5: Complete the payment through cards, net banking, or Paytm Wallet.