PayTM, India's largest mobile wallet app disappeared from the Apple app store owing to a bug that was reported. Both the iPhone and iPad app had bugs and therefore had to be taken down.
Honestly, this bug sends a chill through my spines! I have over Rs 2000 in my PayTM wallet right now and with the PayTM's policy that they aren't responsible for any lost of cash due to any circumstances, it is high time to move out and use other means of payment. Oh wait.. there's no other way but PayTM :/
I haven't had cash since November first week and have been using Cards, PayTM and Internet Banking for everything and notably paying more than I should. For a Rs 180/kg chicken, I had to pay Rs 320/kg online a couple of times. The local chicken shop doesn't accept online mode of payment and he never will. I had to pay 2% extra to buy a mobile from a local store using my card. Thanks to transaction charges and the list goes on.
So much for going cashless; everything will become expensive as transaction rate ranges from 2-5%.
Last week, I was in CP and had no cash. My battery died. It took almost an hour to find a charging outlet for my iPhone and book a cab to go home. Many times, I have had to walk away after ordering food because PayTM didn't work and there's no other mode of payment. It reminds me of the good old IRCTC days.
When multi million dollar funded company like PayTM can have bugs; what is the probability that someone would hack into it and withdraw the money is anyone's guess.
Good luck and good bye PayTM Wallet.