RBI proposals on alternative factor authentication, joint rollout of payment verification mechanisms, and VPP for OTP-less authentication.
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Updated oct 9
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How it started
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What happened
RBI proposals on alternative factor authentication, joint rollout of payment verification mechanisms, and VPP for OTP-less authentication.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.RBI issues directions and NPCI introduces biometric alternatives for digital payments.1 source
- Pilot of One Credential solution in India involving City Union Bank and Mastercard.Sub-event
RBI pushes for advanced, OTP-less payment verification systems in India.1 source
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The entities involved
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Visa Inc.
American multinational financial services corporation
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Reserve Bank of India
central bank of India
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Mastercard
American multinational financial services corporation
Related events
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- The Union Ministry of Finance proposed amendments to the Indian payment system, which the RBI is now regulating under the Payment and Settlement Systems Act.
- UPI is gaining ground in the market, leading to a competitive challenge to the usage share of established card networks like Visa and Mastercard.