Bharti Airtel, the second-largest telecom operator in the country, owns one of the most successful fintech companies called, Airtel Payments Bank. It is an online payments bank that allows users to transact money very conveniently whenever they want. But with online banking comes the risk of fraudsters tricking people into traps for stealing their money. However, Airtel has equipped its payments platform with a feature called ‘Safe Pay’, which makes it extra safe for users overall. Let’s see what Airtel Safe Pay is.
Airtel Safe Pay, What Is It?
Well, it is not something new. We have talked about it before as well. But for the people who don’t know, Airtel Safe Pay is an additional layer of an authentication process that is put on top of two-factor authentication to make it safer for users to leverage Airtel Payments Bank for transacting money.
Airtel Safe Pay ensures that whenever money is transacted out of your account, you are asked to approve the transaction. Airtel Safe Pay uses OTA (Over the Air) technology to send users the alert of a transaction happening from their account.
Note that Airtel Payments Bank doesn’t charge anything extra for Airtel Safe Pay. So what happens is that when the customer is making the payment, he/she has to enter their mPIN or the OTP to authenticate the transaction. Normally, entering the right mPIN or the OTP would make the transaction go live. But, with Airtel Safe Pay, even after entering the mPIN or the OTP, users will be asked to approve the transaction manually from their Airtel Thanks app.
This will alert users that money is being sent out of their account. Sometimes, users don’t understand when someone is trying to get the money out of their account. But with this additional alert, users will get to see that if they approve the transaction, their money will be deducted.