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RBI relaxed the requirement of additional factor of authentication requirement for card payment for transactions value of up to Rs 2,000

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RBI/2014-15/601DPSS.CO.PD.No.2163/02.14.003/2014-2015 May 14, 2015 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative Banks/Authorised Card Payment Networks Madam / Sir Card Payments – Relaxation in requirement of Additional Factor of Authentication for small value card present transactions Reserve Bank has … Read more