Paytm's Gateway Introduces ALT ID Guest Checkout

Paytm Payments Services, a subsidiary of One97 Communications Limited, has become the pioneer in the industry by offering merchants an Alternate ID (ALT ID) based Guest Checkout solution. This innovative feature ensures cardholders can complete transactions without saving sensitive card data, bolstering online security. The process significantly expedites purchases by eliminating the need for customers to create accounts on merchant websites. To facilitate ALT ID transactions, Paytm has collaborated with card networks to generate a unique ID for guest checkouts.

 

This advancement aligns with the Reserve Bank of India's guidelines, mandating that entities involved in card transaction processing refrain from storing sensitive card information for guest checkouts by October 31, 2023. The ALT ID system adds an extra layer of security by replacing card numbers with an Alternate ID associated with the card.

 

Leading global payment companies Visa and Mastercard have lauded this move, emphasizing how it balances guest checkout convenience with robust security measures, aligning with regulatory standards and ensuring secure digital payments in India. This initiative reaffirms Paytm's commitment to providing a secure and seamless transaction experience for its users.

 

Ramakrishnan Gopalan, Head of Products and Services at Visa India and South Asia, commended this advancement, emphasizing its positive impact on payment security. Anubhav Gupta, Senior Vice President of South Asia at Mastercard, praised the collaboration for introducing a compliant and user-friendly solution that enhances the safety and security of digital payments.

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