In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Wallet Insurance will cover Paytm users for losses due to fraud, theft, or loss of phone of up to 20,000 rupees ($311.87), Initiate India reported. There is no charge for Wallet Insurance as long users have the latest version of Paytm installed on their device.
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Electronic payment methods like credit cards do involve an obvious physical loss so they lead to less psychological pain. That’s one reason why banks like payment apps; they might lead to more overdraft fees and interest payments and more profits for banks. It’s also why Walmart (NYSE: WMT) was so quick to roll out Walmart Pay, to get people buying more.
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