New Delhi: Online payments firm Paytm on Thursday withdrew a point of sale (PoS) feature it introduced in its mobile app just a day earlier. The feature was withdrawn after several banks raised possible security concerns about the feature with the Reserve Bank of India (RBI), two people familiar with the development said. The company was asked to address security concerns and relaunch it after these concerns were met, these people said, requesting anonymity. ALSO READ | Paytm adds Point of Sale feature to its mobile app for merchants“Post our launch, we have had several discussions with stakeholders on how we can make this process even more secure. While announcing the feature, Paytm had said that this would help small merchants to accept card payments by allowing a consumer to key in their debit/credit card details in the Paytm app on the merchant’s smartphone.

Source: Mint November 24, 2016 21:29 UTC