There are few available features and following are the ways that should be followed to secure your money:
1. Set the Phone’s default Android security password if not already done. Go to your Phone’s Settings > Security > Screen Lock > Choose Screen Lock.
You can select Pin, Password, Pattern or Fingerprint to protect your phone.
2. Update your Paytm App, login to Paytm. Go to Profile > Security & Settings > Android Security Feature > Slite it.
You will be prompted to reconfirm your Pin/Password/Pattern/
This feature is coming soon on Paytm iPhone App as well.
3. Install any third party app, which provides security feature to lock the phone applications. You can lock Paytm App as well, with the help of such third party apps.
In these ways, your Paytm Wallet will remain protected even if you lose or misplace your phone.