News > Fintech Firms Seek To Replace SMS Alerts For Bank Transactions

Fintech Firms Seek To Replace SMS Alerts For Bank Transactions

09/06/2022 08:12 PM | Click to read full article

Indian fintech companies, including Paytm and Google Pay, have filed a plea with the Centre to consider in-app alerts as an alternative to the mandated SMS notifications for banking transactions.

In their petition, the fintech firms cited higher SMS costs as well as security concerns as triggers behind the move.