The Indian Regulator(RBI) is doing its best to prevent Plastic Money Fraud. However, over the decades Plastic money fraudsters have existed and come in a whole new way to rip off our hard earned money. Increased online shopping , the growing acceptance of debit cards combined with the increase in types of frauds and the need for something that helped with the new frauds was the trigger.
OneAssist Consumer Solutions Pvt Ltd, funded by Sequoia Capital and Lightspeed Venture Partners has launched an enhanced product for the assistance and protection market. The New WalletAssist covers all kinds of fraud on debit and credit card . It covers card skimming, phishing, and even online frauds and PIN based frauds.
For people with multiple cards and those that use ATMs who do online shopping it may be useful to have a product that gives you 7 day pre-reporting cover along with protection ranging from upto Rs 150,000 to Rs 250,000 (depending on the plan you take ).
This coupled with assistance like blocking all cards with just one call, foreign translator if you have lost wallet and passport abroad, helping you settle hotel bill and ensuring a ticket to return home and even helping with your new PAN card and driving license.
To put in perspective – pay Rs 3.59 a day (cover of Rs 150,000) or Rs 4.93 a day(cover of Rs 250,000) for assistance and protection. The plans are available @Rs 1299 and @Rs 1799 annually.
Subrat Pani, Co-Founder, OneAssist, said:
With 200 mn internet users in the country, Online transactions have increased multi-fold in last few years. But there is still a worry around using Cards Online, for the fear of card information being misused. Our new WalletAssist Plan is designed to offer complete peace of mind with its comprehensive fraud protection and one call assistance services
Since the Type of Complaints on Cards have been increasing you should be careful when you handover the card for Transaction so that Skimming doesn’t happen.
Disclaimer: We have not received any compensation in any form from OneAssist for carrying out this post and this has been solely done to help consumers aware of the product that exists.