wordpress blog stats
Connect with us

Hi, what are you looking for?

Banks Test One Time Password For Tele Payments In India; RBI Extends Deadline

Update: Airline GoAir sent the following message to its customers (I received one): "As per the new guideline of Reserve Bank of India, all GoAir customers making Credit/Debit card payments through our call center w.e.f. 01st January 2011 will need to have an OTP (One Time Password) which is mandatory. We request you to contact your card issuing bank for further details on OTP to ensure hassle free card transactions on GoAir call center." Jan 3rd 2011: The Reserve Bank of India has extended the deadline for use of an additional security measure for authentication for all credit and debit card payment transactions made on IVR (interactive voice response) systems, from 1st January 2011 to 31st January 2011. According to RBI, this is keeping in view requests made by banks and other stake holders to test the new authentication system in a live scenario, parallel to the existing one. Thus, until the end of January, IVR based mobile transactions will be allowed to through even if the additional authentication factor fails. Read the original RBI circular on the additional factor of authentication issued in April 2010. Although, after RBI guidelines in 2009, online transactions required an additional alpha-numeric 3D Secure password after entering the card details, for IVR systems it was not possible to use the same password as it contained alphabetic characters. To overcome this problem, a 6 digit OTP or One Time Password was devised by banks. Also, since the IVR system cannot redirect to the issuing bank's IVR as…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ