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FASTag smartwatch scam: NPCI, Paytm rubbish claims, name viral video ‘untrue’

Bibliometric Details: Issue No: 6 | Issue Month:June | Issue Year:2022

In a clarification to a viral video on the web alleging a ‘FASTag smartwatch scam’, Nationwide Funds Company of India (NPCI) and Paytm luxuriate in said that it is “untrue”. The video wondered the safety of the FASTag system. Within the viral clip, a cramped bit one would possibly perchance well be seen having a survey to scan FASTag with a smartwatch while cleaning the windshield of a automobile. The kid flees when a person within the automobile questions him about the explore. It became as soon as claimed within the video by the motive force that the cramped one became as soon as making an are attempting to siphon off the steadiness within the FASTag card by the smartwatch. It additionally claimed that it is a unique scam, where fraudsters luxuriate in equipped smartwatches outfitted with scanners to adolescents, who beg.  

A video is spreading misinformation about Paytm FASTag that incorrectly shows a smartwatch scanning FASTag. As per NETC guidelines, FASTag funds would possibly perchance well be initiated completely by authorized retailers, onboarded after a pair of rounds of testing. Paytm FASTag is fully stable & stable. pic.twitter.com/BmXhq07HrS

— Paytm (@Paytm) June 25, 2022

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On Twitter, Paytm said, “A video is spreading misinformation about Paytm FASTag that incorrectly shows a smartwatch scanning FASTag. As per NETC guidelines, FASTag funds would possibly perchance well be initiated completely by authorized retailers, onboarded after a pair of rounds of testing. Paytm FASTag is fully stable & stable.”  

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In a assertion, the NPCI, which oversees retail funds system in India, known as the claims “baseless”. No transaction would possibly perchance well be implemented by start web connectivity, it said.  

Please video show that there are baseless and unsuitable videos circulating on Social media. Manufacture impress the below functions:

1. No transactions would possibly perchance well be performed by start web connectivity. pic.twitter.com/AKqvcpVE1z

— FASTag NETC (@FASTag_NETC) June 25, 2022

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The Nationwide Electronic Toll Series (NETC) FASTag Ecosystem has been constructed on a four-event model. It entails Acquirer Bank, NPCI, Issuer Bank and Toll Plazas. There are many layers of safety protocols to make certain that the discontinue-to-discontinue stable processing of transactions, it added.  

(With inputs from companies)

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