RBI and NPCI Push for Biometric Authentication to Combat UPI Fraud
RBI and NPCI Push for Biometric Authentication to Combat UPI Fraud Last week, the Reserve Bank of India (RBI) suggested that banks explore alternative methods to authenticate card transactions beyond the current One-Time Password (OTP) system. The RBI is particularly interested in using biometric authentication to reduce financial fraud. Biometric Authentication for UPI Payments The…