Paytm Payments Services Ltd (PPSL), a wholly-owned subsidiary of One97 Communications Ltd (OCL), which owns brand Paytm, has introduced an Alternate ID (ALT ID)-based Guest Checkout solution for merchants, enhancing cardholder safety and streamlining transactions. 

With this solution, customers can make purchases as guests without storing sensitive card information on e-commerce/merchant websites.

This Guest Checkout innovation simplifies the process of signing up for an account on a merchant’s website by sharing additional information, resulting in faster transactions. Paytm has integrated with card networks to generate alternate IDs for guest checkout transactions, adhering to RBI’s guidelines.

The Guest Checkout solution safeguards against potential data breaches by creating an Alternate ID for customers to use their complete card details for transactions, eliminating the need to enter account details and passwords. This ensures that sensitive card details are not passed to subsequent entities in the transaction flow.

seamless integration

Paytm also offers seamless integration for merchants’ websites, making it easy to implement this service. The solution aligns with RBI’s mandate to replace card numbers with Alternate IDs by October 31, 2023, for guest checkout transactions.

A spokesperson from PPSL stated, “As the first to go live with the Alternate ID solution, we continue to innovate and bring merchants the best payment solutions, empowering cardholders’ security and enabling fast guest checkout for efficient transactions. This eliminates risks like misuse of sensitive card information, focusing on compliance and safe payments.”

robust security measures

Ramakrishnan Gopalan, Head of Products and Services for India and South Asia at Visa, commented, “Visa’s ALT ID solution, in collaboration with Paytm, combines guest checkout convenience with robust security measures, revolutionising payment security and accelerating secure digital payments in India.”

Anubhav Gupta, Senior Vice-President for South Asia at Mastercard, added, “Mastercard is pleased to collaborate with Paytm on its Alternate ID-based guest checkout solution, allowing consumers to conclude transactions on e-commerce platforms without saving card details.”

This solution aligns with RBI’s guidelines and Mastercard’s objective of enhancing payment ecosystem security, he said.

To further drive acceptance for the Guest Checkout solution, Paytm Payment Gateway is also working with NPCI to bring the guest checkout solution for all Rupay cardholders by October 25th. This is also aligned with NPCI’s commitment to continuously improve safety and security of digital transactions.

Related Topics