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Global Digital Payment Market Report 2021-2026: Increasing Demand for Contactless Payments, Growing Adoption of Real-time Payments and Increasing Customer Expectations
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Global Digital Payment Market Report 2021-2026: Increasing Demand for Contactless Payments, Growing Adoption of Real-time Payments and Increasing Customer Expectations
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
‘REs should incorporate secure, safe usage guidelines for digital payments’
February 18, 2021
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The Reserve Bank of India (RBI) wants regulated entities (REs) to make it mandatory for the consumer to go through secure usage guidelines vis-a-vis digital payment applications.
REs (all Scheduled Commercial Banks,excluding Regional Rural Banks/ Small Finance Banks/Payments Banks/ Credit Card issuing non-banking finance companies) should incorporate secure, safe and responsible usage guidelines and training materials for end users within the digital payment applications, the central bank said.
The regulated entities should also make it mandatory (that is not providing any option to circumvent/ avoid the material) for the consumer to go through secure usage guidelines (even in the consumer’s preferred language), per the RBI’s ‘Master Direction on Digital Payment Security Controls’.