HOME > SOCIETY > CRIME > PayTM fraud not related to wallet service

PayTM fraud not related to wallet service

PayTM, India’s largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received.

The fraud does not involve any leakage of money from the wallet service, but is centered around claiming illegal refunds for goods that were ordered, and received via PayTM’s online retail website and app.

The complaint found that in 48 cases, customers had received their goods were also given refunds.

“As a matter of facts wherein delivery of orders were successful and satisfactory to the customer, refund should not happen. However, in all these 48 cases refund of order amount happened to the respective customers to the tune of Rs 6.15 lakh,” the complaint said.

The case has been registered against customers who are residents of Kalkaji, Govindpuri and Saket in Delhi.

A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter.

Meanwhile, some questioned the rationale behind handing over the enquiry of a largely routine fraud case to the CBI.

“Why CBI? Has govt nationalised Paytm? Or has it taken over government? Is CBI underemployed? Or has it been privatised,” asked Shekhar Gupta.

Typically, CBI does not start investigations into a private case without the same being referred by the concerned state government.

However, since the Delhi government does not look after law and order and enforcement in the capital, it is likely that the case was directly handed over to the CBI.

PayTM is the most successful wallet company in India. Besides PayTM, others such as Freecharge and MobiKwik are also present in the fast growing wallet ecosystem in India.

In July this year, the CBI registered a case of cheating after receiving a complaint from Paytm.

In its complaint, the company listed 26 cases where a refund was claimed and processed after the delivery of goods was successfully made.

“The technical analysis of the e-commerce service provider states that this cannot happen without involvement and knowledge of its employees,” the FIR said.

Follow ULTRA.news
SBI, IOB and Corp Bank only PSBs to charge for mobile NEFT Only three public sector banks -- State Bank of India, Indian Overseas Bank and Corporation Bank -- levy charges on even the smallest money transfer done via mobile phones using the National Electronic Fund Transfer or NEFT facility, data compiled from public sector banks show. ...
India bitcoin law not ready yet – Finance Ministry Finance Minister Arun Jaitley said there was no law on the use of bitcoin and similar crypto currencies in India, and users of such currencies may not get recourse to legal remedies for any damage.However, Jaitely added that the government has set up a committee that is expec...
Yes Bank launches impulse buying app ‘Tap To Shop’ Trying to differentiate itself from regular ecommerce websites and apps, Yes Bank has launched an impulse buying app known as Tap To Shop.Unlike regular online shopping apps, Tap To Shop will be focused exclusively on delivering deals that are not available at most times. The...
SBI enables Samsung Pay for some of its debit cards State Bank of India said it was enabling payment by Samsung Pay service on some of its higher debit card variants.Samsung Pay works by mimicking the 'swiping' action of a credit or debit card by sending a magnetic pulse. The 'card machine' or point of sale machine mistakes th...
Demonetization took India forward by 3 years – SBI The demonetization of currency notes late last year has doubled the number of card transactions and helped push India's payment digitisation by three years, State Bank of India said in a note."Even after seven months post demonetization, the transaction value is quite large ...
After Amazon, ALTBalaji signs up on Opera TV Content app ALTBalaji said it has signed on with Opera TV, a platform that powers smart TVs, DVD players and other instruments."All Smart TVs, Blu-ray disc players and Set-top boxes powered by Opera TV will provide instant access to over 250 hours of original content from AL...
Anil Ambani group relaunches Bigflix to take on Netflix, Amazon Prime Video The Anil Ambani Group has relaunched Bigflix, the homegrown competitor to Netflix, with an expanded focus covering regional language content as well as an eye on audiences outside India.The service will have 2000 HD movies in nine Indian languages to start with, the group s...
Net Neutrality: Vodafone wants right to manipulate Internet videos Telcos want to be able to reduce video qualityVodafone India said it would like to be given the power to manage the size of videos watched by users on its mobile network and lower it automatically "for overall quality welfare".Participating in the discussions related to ...
Vodafone customers to get Rs 250 cashback on Amazon Prime subscripton Amazon Prime App in IndiaVodafone said any of its subscribers that uses its website or app to subscribe to Amazon Prime service in India will get Rs 250 cash back in the form of payment balance in their Amazon account.Technically, operators in India are forbidden from gi...
Credit, debit card fraud down sharply this year in India Credit Card Fraud in IndiaIncidents of fraud and theft involving credit and debit cards have fallen sharply in the current financial year, according to data for the first nine months provided by the Reserve Bank of India.While the exact reasons for the sharp decrease is ...
PayTM ropes in IIT Kanpur for ‘cashless campus’ PayTM, India's biggest mobile payment company and a minority subsidiary of Alibaba Group, said it partnered with Indian Institute of Technology Kanpur to bring its cashless payment solution to the country’s premier engineering college.Under the program, students will be able ...
Siti to launch cable broadband in five Indian cities as Jio expands Zee Group-owned Siti Cable will launch high-speed broadband services in five different cities by June this year, company sources revealed.Siti Cable, a brand of Siti Networks, currently operates broadband services in Delhi, Hisar, Rohtak and Karnal. The new locations are ...
Bharti Airtel to launch pan-India Payments Bank tomorrow Bharti Airtel, India's largest telecom company, will take a crucial step towards entering the financial services business as it launches its Payments Bank operation across India tomorrow.Payments Bank refers to a limited operations bank that can be primarily used for maki...
PayTM adds support for UPI payments Customers of PayTM, India's largest wallet service can now make payments using the Unified Payments Interface, the government of India's open payments platform.The company has signed up with ICICI Bank be able to receive payments from its customers who are on the UPI platform...
After Freecharge, Axis Bank wins virtual POS provider Paynear for its UPI platform Paynear, which helps shopkeepers and businesses to accept card payments without buying a point-of-sale (POS) machine, has tied up with Axis Bank to implement support for UPI or Unified Payment Interface.UPI allows users to send and receive money and make payments using IDs th...
Three lakh Amul outlets to start accepting MobiKwik payments MobiKwik, Indian mobile wallet major, today announced its tie up with Amul, the Indian dairy cooperative.The association will help customers of Amul in making cashless payments with MobiKwik at 7000 Amul outlets and 3 lac Amul Multi brand outlets & retailers across India....
PayTM hit by Rs 6.15 lakh fraud PayTM, India's largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received.A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter. ...
BEST bus users can now pay using Freecharge and Ridlr Freecharge, owned by Snapdeal, said users of BEST public transport buses in Mumbai can pay for their tickets using its wallet service.This has been achieved by tying up with Ridlr, the official mobile ticketing app partner of BEST."BEST commuters can now pay for thei...
Pokemon Go launched in India in association with Reliance Jio Pokemon Go, the virtual reality game where players have to 'catch' and 'train' creatures called Pokemons, has officially been launched in India, months after it first became available in markets such as the US.The India launch has been done in association with Reliance Jio, t...
Domino’s Pizza starts cashless facility for phone orders Domino's Pizza has started cashless payment facility for those who order by phone as well."Post demonetization, we have seen many customers choosing to order online. Consumers coming to our restaurants to dine in or carry out are able to pay With Credit caras or Wassets. Howe...
Freecharge ties up with ICICI Bank to offer POS services Snapdeal-owned FreeCharge has tied up with ICICI Bank's Merchant Services, which will allow consumers to pay their bill at over 1 Lakh ICICI stores with their Freecharge accounts.These merchants are located at across 700 cities and towns in India, the company said. "FreeC...
Airtel starts Payments Bank; offers 7.25% interest on savings ac Airtel Payments Bank, a subsidiary of Bharti Airtel Limited, today said that it has rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch.With this, Airtel Bank has become the first...
ICICI Bank is the first with UPI app for merchants While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants.The app requires a current account with ICICI Bank to operate, and any ...
Card payments slow as people start swiping more after Demonetization Swiping a debit or credit card at the local grocery store or supermarket is supposed to be the best way to beat the demonetization blues, but going by social media feedback, these networks are getting overloaded as well.In fact, our own staff have found that they have had to ...
Sorry, Reliance Jio is NOT launching DTH In what is becoming something of a routine, yet another rumor has been spread that Reliance Jio is about to start a DTH service and you will be able to get all the channels at half the price that you currently pay.According to this, 350 TV channels will be offered at Rs 185 p...