So Truecaller ended up auto-registering new users for its payment service and after a few tweets (i.e. when it was caught doing this malpractice), pushes a fix to update the bug.
Thread. I fell victim to a @Truecaller UPI scam this morning. @npci_npci @upi_npci.
— Dheeraj Kumar (@codepodu) July 30, 2019
“We’re sorry about this version not passing our quality standards. We’ve taken quick steps to fix the issue, and already rolled out a fix in a new version. For the users already affected, the new version with the fix will be available shortly, however, in the meanwhile they can choose to manually deregister through the overflow menu in the app” (noname official source/via).
THIS IS FFFF..intech?
A company which has raised close to $100mn doesn’t even have the basic engineering standards in place?
What goes in production system is a BUG which automatically registers people to its payment service? Just to increase user count? Seriously, who was coding these bugs? Who designed the flow?
A company of this size isn’t able to afford decent engineers, program managers who are overseeing these *BUGS* passing through the production system?
Isn’t it time RBI actually mandates a certain standard for Fintech companies? In another news, Hyd based CreditVidya was found collecting people’s data using music apps – just to train its ML algo.
Time to regulate Fintech startups?
If RBI comes after such Fintech startups, the world will start calling them ‘control freak’ – but then there has to be a clearly drawn line, if we are to take privacy seriously.
With China and Japan funding pretty much most of Indian Fintech companies, it is high time we realise the true impact of data.
Will Truecaller remove all the ‘auto-registered’ users from the payment systems? Does it even care?
Update: Truecaller is removing the auto registered users from the payment system.