OTPs

Alternatives to OTPs will make payments safer: Visa

contact@dailyupdatesindia.com5 months ago03 mins

MUMBAI: RBI‘s move to get merchants to store tokens instead of card data since 2022 has cut down frauds and improved transaction success rates. Now, allowing alternatives to one-time passwords (OTP) for authentication is expected to make the system more efficient. Speaking to TOI, Visa’s head of products and innovation for South Asia, Ramakrishna Gopalan,…

Tired of OTPs? RBI is open to options

contact@dailyupdatesindia.com5 months ago02 mins

MUMBAI: RBI has signalled the end of OTP-only second-factor authentication (2FA or AFA) for payments with its Authentication Directions, 2025, issued on Thursday.For consumers, the changes promise fewer bottlenecks and more choice. SMS-based OTPs, prone to delay and interception, will cede ground to biometrics, app-based tokens, or device-native methods such as face ID. Liability for…

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Alternatives to OTPs will make payments safer: Visa

Tired of OTPs? RBI is open to options