Wallet Insurance

Wallet Insurance 
Ø  Coverage :Theft, loss of Device or Unauthorized Access of their Paytm Wallets
All Paytm users with balance in their wallets would be automatically covered under this scheme at no additional cost and the lost money would be refunded to their Paytm Wallets.
Ø  Scope of the coverage;
ü  Loss of Paytm Wallet balance up to Rs. 20,000 due to fraudulent transactions as a result of theft, burglary or loss of mobile phone/device.
ü  Loss of Paytm Wallet balance by unauthorized fraudulent transactions if the user’s log in credentials weren’t shared.
Ø  Claim Procedure :
·         Report the loss immediately at paytm.com/care or by calling Customer Care number 0120–3888 3888( within 12 hours).
·         lodge an FIR (within 24 hrs) about loss of device (in case of loss/theft of device) and share the details with paytm.
Claim payment : If the claim is found to be genuine, settlement will be  done within 5 working days.
***Condition :
·         Only one incident of claim is applicable per user within a period of 12 months.
·         Coverage will be applicable only in case of Paytm receiving intimation of any transaction/loss of device within 12 hrs of the incident.
Ø  What are the events not covered under this scheme?
Any loss occurring in case the user details/device were shared/misplaced/acquired due to user’s negligence.
Any fraud due to misuse of credit card/debit card/bank account information through the Paytm Platform.
Any loss arising out of negligence on the part of the user (e.g. typing a wrong number to send money).
Any loss arising due to user not upgrading/adopting the latest security features released by Paytm.