Paytm Cash Back Fraud Inquired Closely
The Noida based firm Paytm has fired over 10 employees so far on the ongoing cashback fraud. The founder of Paytm Vijay Shekhar Sharma confirmed about an investigation going on in this fraud matter at Paytm Mall, the online market place, unit of the group backed by Chines e-commerce giant Alibaba and Japan Soft Bank.
The company has now restricted itself to take on board only authorized vendors, as a precaution. Earlier the company had no restrictions on the sellers to sell their products online, but this lead to the fraud as the third party vendors use to show the flow of fake orders to attain cash back advantage.
The company’s policy was to give a chance to any type of seller who wants to sell their product on Paytm platform. But now the company is very strict on who should be the sellers on their platform, only genuine and authorized sellers will be allowed and everybody else is not welcomed at all.