Have you ever lost your wallet or your mobile?
- Have you gone through the trouble of finding your bank credentials?
- Are you looking to prevent misuse?
- Not yet? you are one of the lucky one.
- Yes? then you know all the pain it takes to overcome that theft.
There has been a lot of hues & cry over the Digital payments push by Mr.Modi’s govt. The opposition is clearly attacking that, it is really insecure to perform any financial transactions Online. Such companies though don’t make it secure for transactions, but make it better in preventing any misuse of transactions.
Start-ups for rescue:
These pain are going to become an old story. The technology development are getting better, the entire process of preventing the misuse of any of your credential or your phone will become easier and hassle free. The startups like OneAssist and CPP India are setting up a new bench mark. They aspire to be one stop for emergency. These fintech companies help you block your debit and credit cards. You can even block your phone to prevent any mobile banking, OTP generation or any access of your financial data.
At Home Service :
They send personal assistants to your home or workplace for collecting documents and to reapply for all items that may have been lost in the wallet -PAN card, driving licence, voter ID, Aadhaar card, ration card, passport, etc.
“We’ve had clients who were overseas and stranded after they got pickpocketed. We helped them book flight tickets, paid their hotel bills and check out. We provide such assistance up to a limit of Rs 1.5 lakh and they can settle with us once return to India,” said Subrat Pani, co-founder, OneAssist.
Another feature that would ease customer’s fears is the 45 day extension OneAssist offers for reporting fraud. Under the RBI’s current guidelines, customers will have to report a fraud within three days for 100% reimbursement. “While on vacation, a three-day window is too short. But a 45-day window ensures that he will informed at the end of one billing cycle,” said Pani. India’s top private lenders such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra and 16 others have tied up with OneAssist and CPP India.
At the other end, however, the Banking Codes and Standards Board of India (BCSBI) said that it still remains the responsibility of the bank to ensure card protection in case of a loss.