Indian telecom operator Airtel today announced the launch of Airtel Safe Pay, a new standard that adds a third layer of security on digital financial transactions. The feature will be exclusive to Airtel customers, and will be applicable through Airtel Payments Bank only, for net banking and UPI transactions. The salient features of the additionally protected payment mechanism includes masking of a user’s primary bank account by only using the Airtel Payments Bank digital banking account, and enabling a third layer of authentication that can prevent unsuspecting users from falling prey to phishing scams and phone cloning attempts, as well as protect them from stolen UPI or net banking passwords.
To avail the feature, users will need to activate Airtel Payments Bank through the Airtel Thanks app. Once activated, they will get a simple toggle to activate the Airtel Safe Pay feature. It will work like a push notification, and will ask users to additionally allow a financial transaction via a push notification on their phones, after a net banking or UPI password has been entered already. Airtel claims that this notification process will be device-locked, and as a result will offer an additional layer of authentication over and above the two-step verification process that most banking transactions use today.
“As digital payments become the norm, especially in the post-pandemic world, we also have to solve for the challenge of frauds that are growing rapidly. We are happy to leverage Airtel’s core telco strengths to bring to market this unique capability that ensures that our customers have full control over their transactions,” said Anubrata Biswas, MD-CEO of Airtel Payments Bank. Airtel further claims that this initiative is the first of its kind in India, and can contribute significantly to the overall safety of users conducting financial transactions on the internet nowadays.