Two-Factor Authentication Now Mandatory for Digital Payments
New Delhi: Another key measure taken by the RBI to curb digital and cybercrimes came into effect on Wednesday. Under this new system, simply entering a PIN number is no longer sufficient to complete a digital payment. In addition to the PIN, users must also provide a One-Time Password (OTP) sent by the bank via SMS, or utilize fingerprint or facial recognition authentication. This rule applies to all payments made through UPI, debit cards, credit cards, and prepaid instruments.
You Might Also Like
-
Despite the growing demand for electric vehicles across the country, the share of electric cars w...
-
The value of the Indian Rupee, which recently hit an all-time low of ₹95.12 against the U.S. doll...
Leave A Comment
Comments