RBI plans new norms to make e‑commerce transactions easier

To make online trans­ac­tions eas­i­er, the Reserve Bank 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. “We are look­ing at small pay­ments where we have two-fac­tor authe-nti­ca­tion. Whether we can cre­ate a sys­tem where we can avoid the sec­ond-fac­tor authen­ti­ca­tion so that the small trans­ac­tions can go,” said RBI deputy gov­er­nor H. R. Khan.

Cour­tesy: Dec­can Chronicle