NPCI in discussion for introducing biometric authentication for UPI payments
By MYBRANDBOOK
The National Payments Corporation of India (NPCI) is reportedly in talks with a few startups to enable biometric authentication for the mobile-based UPI payments. UPI uses a personal identification number (PIN) as the second-factor authentication for mobile payments as of now. Primary factor authentication is the device binding done through SMS, when customers enroll for UPI on their mobile devices.
Enabling biometrics would mean that consumers will use their fingerprint on the Android platform and face ID on iPhones for UPI transactions, instead of four or six-digit UPI PIN.
While the primary initiative on alternative payment authentication started more than three years ago, the urgency now stems from the Reserve Bank of India’s concern about multiple UPI scams that keep happening because of PIN-related frauds.
Last week, the regulator published a framework for alternative payment authentication other than OTP for card transactions. The regulator prefers behavioural risk patterns and biometrics over other means as of now.
“In order to enable the payments ecosystem to leverage the technological advancements and implement alternative authentication mechanisms, it has been decided to publish a Framework on Alternative Authentication Mechanisms for Digital Payment Transactions,” the RBI statement said.
While NPCI tried accessing Digilocker for enabling biometrics, it was not successful and hence started exploring partnerships with startups.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
MICROTEK INTERNATIONAL PVT. LTD.
BPE INDIA PVT. LTD.
VERSA NETWORKS INDIA PVT. LTD.
EXATRON SERVERS MANUFACTURING PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
ICONS OF INDIA : SOM SATSANGI
With more than three decades in the IT Sector, Som is responsible for ...
ICONS OF INDIA : VIJAY SHEKHAR SHARMA
Vijay Shekhar Sharma is an Indian technology entrepreneur and multimil...
PARTNER SPEAKERS
PSU
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
