Cashless economy is the in-thing. With the digital India campaign and demonetization that followed, online payment has seen an extensive growth. With companies like PayTM registering up to 200% growth in the average transaction value post demonetization, a major concern that arises is whether these apps are secure.
For some apps, there is an automatic linkage with third party vendors. This enables them to automatically deduct amounts without the explicit consent of the user. On the other hand, there is a security concern with respect to user log in. The payment apps do not automatically log the users out and anyone having access to your phone can easily make financial transactions. The risk increases in case you lose your phone. Locked or protected – it doesn’t matter. There is always a way around to gain access. Another concern is inadequate management of transactions and poor transaction analysis (based on the research done by CSITM)
Reading this does raise concerns in one’s mind and apprehensions about payment platforms and hence come a bump in the path of a cashless economy. But where there is a problem, there is also a solution! In comes Easebuzz.
With 128-bit SSL, and PCI-DSS compliance, Easebuzz provides the best and the quickest way to collect payments, either through links or QR codes.
We do not ask our customers to login or create an account before making a payment. They can simply enter the payment details; make the payment and rest assured about their confidential data. We also provide a complete track of all the transactions of a merchant on their dashboard. This list is easily downloadable and can be used for further processing.
We still are on the right track for a cashless economy. One just needs to find the correct platform. We at Easebuzz are enthusiastically driving this campaign, along with 10000+ merchants in our team. What are you waiting for?