How secure is payment by scanning Paytm QR code to merchants?

Posted: 17 Dec 2016 in AWARENESS
Tags: , , ,

This article is all about Paytm QR CODE it’s generation and it’s security but before i write anything about PAYTM I want to make you all clear that I DO NOT work for Paytm nor am I associated with the company in any way.
I used to test QR CODES using QR CODE READER and QR CODE GENERATOR SOFTWARES and other different QR Code
Management tool that allows people to create, design, manage, and track QR Code.

Here in this article i am going to tell you why one should and shouldn’t use Paytm QR Codes for in-store purchases.
Now it’s all up on you.Read the article and then take a calculated decision whether you should adopt it or not.


First Learn How to generate QR CODE For Your Paytm Wallet.

 Step:1 Open Your paytm Account.

paytm account


Step:2 Click on request option on above image.

paytm request money

Step3:Now in above pic you will see Mobile number option.

 Infront of Mobile number option there you will see an image click on that image to get your QR CODE.

paytm request money



Step4: Now you can clearly see generate QR Code option there.So click on that and you will get your QR CODE which is unique and is different for different Paytm wallet.

paytm qr code



 Now I will dicuss the issue of  QR CODE SECURITY in Details here.

If you trust Paytm to transfer money from one account to another (say using mobile number), you should trust Paytm to do the
transfer via QR Codes.

I am happy to inform you that Paytm QR Codes are encrypted. So if someone takes a picture of your QR Code,

they will just got a QR Code with garbage data (since it is encrypted only a Paytm app can read it) and i have tested this using

A QR Code to make a payment only to you (it’s like a bank account number. Whoever has your bank account number can only
make a transfer to you but cannot access your account in any way)
So you can share your Paytm Merchant QR Code with anyone or display it anywhere. There is no security threat.

But at the same time you have to be aware with your mobiles usage by taking care who has access to your Paytm app on your
smartphone. Because you know It is possible to instantly transfer money from your paytm account aother paytm account or
BANK very easily.

Now you will ask me Why should we use Paytm QR Codes?

I have several reasons to tell you why one should use Paytm QR CODES.

Answer is very very simple.

No cash no worry: Allows you to give buyers an option to pay via their smartphones.

This means that they can use their phones (which they always carry) even if they don’t have cash/card (which they might or
might not carry)

No problems of change: Buyers can transfer the exact amount.

There is no No transaction fees: Unlike credit or debit cards, Paytm doesn’t charge any fee per transaction.

Paytm only charges a 1–1.2% fee when you transfer money from Paytm to your bank account.

No cash handling: If you create an ecosystem where you take payments via Paytm, Cards, etc. you will not have a risk of cash
handling or incur any cash handling charges.


Now next question is Why SHOULDN’T we use Paytm QR Codes?

No handy cash: The money goes in your Paytm account or bank account.

For merchants like Doodhwallas,Sabjiwalla, Autowallas, Panwallas, and other small stores and shops (who depend upon daily
income), this is a huge problem.

No possibility of avoiding tax or saving tax: Many small merchants and business man make profits only because they avoid tax and do not give ‘pakkaa’ bills.
This will not be possible with Paytm as each transaction will be recorded. I believe any Paytm account that needs to transact
above Rs. 10,000 has to do a KYC as per regulations.

In short i will say Paytm QR Code is a step forward in the payments ecosystem and I personally recommend every merchant to
adopt it to keep up with the times.

Paytm QR Codes are secure and merchants need not worry about breaches.

As a tech geek (which most young Indians are becoming), I want an option to pay via my smartphone. Also, I hate going to the
ATM to withdraw cash. I keep cash only for emergency.

Altough these doesn’t mean i hate cash money. I love money and i enjoy the touch of currency Specially 500 and 2000 Rupee

New Fresh Notes are alway my all time favourates.
Very soon i will write an Article on How to Secure Your Paytm Account or digital Money.
I am also writing an Article on what steps should be taken be your Paytm get Hacked.

If you like my articles share it and comments your thoughts through comment section and if you want to support me to write
more and more keep donating through Paytm vist my Donate Page.


  1. Bro please reply me i read a newspaper claiming that a first person send qr to other then the other person take out huge amount of money without the permission of first person.


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