Online transactions with single authentication - RBI
Posted on: 10/Dec/2014 12:10:54 PM
The Reserve Bank of India will soon come out with single authentication payment norms for low value e-commerce transactions without any compromise on security.
The criteria to decide on low value transaction will be decided by the norms expected to be released in a month.
Currently, two-step authentication is generally prevalent in the country unlike developed nations. First step of authentication is feeding PIN and next step is punching in of secure code or One Time PIN (OTP).
