Since the beginning of the Covid-19 pandemic, cash payments have seen a significant leap.
Digital payment platforms such as Paytm, Google Pay, Bhim, Phoneeepe and others help users provide payment options without contact during these difficult times.
Even though this application aims to provide a safe payment experience, some fraudsters also use it to deceive innocent users.
The video that appears on the social media platform shows one fraud like that.
In accordance with viral videos, cybercriminal has created an application called ‘paytm spoof’ which can be used to cheat traders and other users.
How Paytm Spoof App Workth Paytm Spoof App allows users to adjust fake animations similar to those that appear after payment.
This application allows users to edit names, contacts, and time transactions in fake animations.
This application is mostly used to cheat store owners to believe that users have completely transferred money to them, which doesn’t happen.
You can see the video below to find out about this fraud better.
Beware: The current shop owner is fooled by scammers using such tricks put together on all platforms, Paytm can be used in any store that receives digital payments.
Shop owners often only see animated confirmation of money transfer on the buyer’s smartphone to ensure payment.
To ensure that you have received payment from other users in Paytm, you must check the Transaction tab on the application.
The PayTM application also sends SMS along with notifications in the application every time you receive payment.
Last year, the company also launched a soundbox 2.0 internet-based payment device (IOT).
It comes with a digital screen that provides instant visual confirmation of the amount paid along with a sound-based response.
It is also equipped with a function button to take payment summaries for the whole day.
The device can record a net amount that is in accordance with the collection of merchants along with voice-based confirmation.
What is Paytm spoof fraud and how to not be a victim
