Friday, 26 April 2024

 

 

LATEST NEWS Mann's roar in Majha!, starts AAP's election campaign in Gurdaspur for Shery Kalsi Mann in Amritsar -When the people of Majha make up their minds, they do not sway, this time they have decided to make AAP win Congress will provide 50 percent reservation to women in jobs: Lamba Haryana CEO takes first-of-its-kind initiative, State Voters to receive Wedding-Style Invitations for General Elections Wheat procurement gains pace as agencies procure 334283.4 MT grains Governor Shiv Pratap Shukla presents Road Safety Awards From Siliguri to a Chai Empire: How a Women Entrepreneur Brew a Successful Tea selling brand CHAIOM Science Fest organised at Rayat Bahra University Detaining the colonizer is a highly condemnable act - Gurjit Singh Aujla AIMS Mohali Observes DNA Day Vigilance Bureau Arrests Patwari Accepting Rs 10,000 Bribe For Mutation Of Land Vigilance Bureau Nabs Senior Assistant For Taking Rs 20,000 Bribe Vigilance Bureau Nabs Reader Of Sho Nri Police Station Taking Rs 20,000 Bribe SANY Heavy Industry India Pvt Ltd Expands Presence with Grand Opening of Raghunath Machinery HO in Rayagada, Odisha Ideathon 2K24 held at CGC Jhanjeri, 160 teams from various colleges participated Retailers Discuss Ways to Stay Ahead of the Curve at the RAI Hyderabad Retail Summit 2024 Bobby Deol Drives the Badass Seltos Hyundai Motor Group Executive Chair Euisun Chung Visits India to Underline Mid-to long-term Mobility Strategic Commitments Rupnagar police arrest accomplice of attackers involved in murder of VHP leader Vikas Prabhakar Complete exercise of identifying critical polling stations within this week : Sakshi Sawhney The impact of the Deputy Commissioner Dr. Senu Duggal strictness, a record jump in lifting in two days

 

RBI eases authentication norms for online card payments up to Rs 2,000

Listen to this article

Web Admin

Web Admin

5 Dariya News

Mumbai , 06 Dec 2016

In a bid to ease online card payments, the Reserve Bank of India (RBI) on Tuesday relaxed the authentication norms for payments up to Rs 2,000."To meet the objective of customer convenience with sufficient security for low value transactions, the card-issuing banks will offer the payment authentication solutions of the respective card networks to their customers on an optional basis," RBI said in a statement here.Customers opting for this facility will go through a one-time registration process requiring entry of card details and additional factor of authentication by the issuing bank. Thereafter, the registered customers will not be required to re-enter the card details for every transaction at merchant locations that offer this solution and, thereby, save time and effort.The card details already registered would be the first factor while the credentials used to login to the solution (as confirmed by the card network providing the solution) would be the additional factor of authentication."The relaxation for additional factor of authentication under such solutions shall be applicable for card-not-present transactions for a maximum value of Rs 2,000 per transaction across all merchant categories. Banks and card networks are free to facilitate their customers to set lower per transaction limits," it said.Only authorised card networks shall provide such payment authentication solutions with participation of card-issuing and -acquiring banks, it added."Customer consent shall be taken while making this solution available to them," RBI said.

 

Tags: RBI , Demonetisation

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2024 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD