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Paytm and HDFC ERGO launched Paytm Payment Protect Insurance

Published on December 21, 2022
Current Context: Paytm and HDFC ERGO launched Paytm Payment Protect Insurance to insure transactions made through UPI.
Paytm and HDFC ERGO launched Paytm Payment Protect Insurance
  • Paytm brand is owned by One97 Communications Limited and it has collaborated with HDFC ERGO General Insurance Company Limited to launch “Paytm Payment Protect Insurance”.
  • This will insure all the transactions are made through the Unified Payment Interface (UPI) across all the platforms including apps and wallets.
  • The minimum premium for this insurance is Rs. 30 per annum.
  • This will prevent mobile fraudulent transactions upto Rs. 10,000.
  • This is to provide safety to customers while using mobile payment methods.
  • To use this customers can use “Protect Payment” from Paytm App and enter details to proceed with the transaction.
  • Higher cover upto Rs. 1 Lakh will be soon done in the future.

Question:

Q.1 Paytm has tied up with an insurance company to provide Paytm Payment Protect Insurance?
a. Life Insurance Corporation of India
b. ICICI Lombard
c. General Insurance Company
d. HDFC ERGO General Insurance
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