MobiKwik, Cobrapost sting, operation
MobiKwik says it has a high-security structure to protect consumers' financial transaction details.MobiKwik webpage (screen-shot)

MobiKwik has reassured fans that the company takes great measures to protect financial details.

A statement has been released in the wake of the recent sting operation on Paytm, which revealed that the company was approached by the government to share user details.

Investigative news agency Cobrapost had earlier in the week posted a series of sting videos titled 'Operation 136' showing many big media houses willing to promote religious and political parties. It even caught Paytm senior VP Ajay Shekhar Sharma claiming Prime Minister Office (PMO) had claimed to have asked details of separatist followers involved in the Kashmir unrest.

After the report went viral on social media platforms, Paytm released a statement rubbishing Cobrapost's sting operation video and said the user information in the server is 100 percent secure.

"To further clarify, in the past, we (Paytm) have neither received requests nor shared any data without a legally compliant request from a bonafide agency and through proper process and channels. You can be sure that no data is shared with anyone whom you would not have given us permission to share it with. This is the holy grail of trust between us," Paytm said.

Even the sting video does not confirm if Paytm shared details with the government. But, if given a subpoena from the government for criminal investigation, they, like any other law-abiding company, will comply as required, the company added.

Now, Paytm's competitor MobiKwik has reiterated that they have good security structure to protect the user information.

"For us at MobiKwik, security and privacy of your data are of utmost importance and we take all necessary measures to keep it safe. All our customer data is securely stored in the database with high-end encryption. Strict policies and application architecture ensures that this data is accessible only when the consumer wants to use it. Even then the data revolves in the system itself and can't be controlled by a human entity. We make sure that your data can only be used upon your consent by deploying such policies alongside carrying out regular security auditing, security programs and employee training programs to make sure that it's near impossible for private parties to forcefully get in and extract the data." MobiKwik said in a statement.

If asked to share information about a person's financial transaction details for investigations on tax evasion or any illegal activity, they will abide the court order, MobiKwik said.

Like Paytm, MobiKwik is widely used for bookings hotels, flights, recharge mobile currency, shopping consumer goods, mobile phones, clothes, food,  and more both online and offline (in select retail chains). The use of e-wallet had skyrocketed after demonetisation of high-value currencies (Rs 1,000 and Rs 500) in late 2016.

One of the major reasons for government to ban the notes was to stifle illegal cash flow used to fund stone pelting operation in Kashmir. For a few months, it had a huge impact in J&K. Though it resumed, stone pelting incidents have come down and are happening only in some pockets of the state.

For lack of cash, people have become accustomed to cashless transactions, but it is the duty of e-wallet companies to make sure their customer's money and financial details are safeguarded.

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