Alibaba backed payments company Paytm seems to have updated its mobile application to allow merchants to accept payments. Hat tip: @manogath. A Paytm executive has confirmed this to us, though its founder Vijay Shekhar Sharma and its corporate communications team have not responded to calls or text messages seeking clarifications. We've also not heard back from them on whether changes have been made following an intervention from the Reserve Bank of India. Our analysis of the ill fated App PoS is here. We updated the Paytm app earlier today, and tried the service: the "Accept Payments" option now ensures that merchants have to type in a mobile number for the recipient, who is sent an SMS, who has to click on a link, be taken to a website, and then has the option of paying via credit/debit card, or netbanking. The screen for UPI says it is "coming soon". Security issues with its earlier approach Sharma is also yet to respond to an email we sent yesterday, asking about whether the planned update addresses security concerns raised when it had launched its application earlier, and specifically requesting information on what Paytm is planning to do to address keylogging. Why? Because Abhishek Muthian of Timebender Technologies had filed a bug bounty submission with Paytm earlier, highlighting that a keylogger can be used to steal user card details in a merchant phone. Oddly enough, even though this is a major security issue, the Paytm team it appears (as per a screenshot posted by Muthian) said this…
