India contemplates compulsory dynamic 2FA for digital payments
ID: cb489e57-23fe-5eee-a79f-4a046d2a2c56
STIX ID: report--cb489e57-23fe-5eee-a79f-4a046d2a2c56
Feed Name: The Register (Security)
The Reserve Bank of India proposed a draft framework requiring dynamic, per-transaction additional authentication factors for most digital payments, expanding beyond SMS OTP to options like biometrics, PINs, passphrases, and hardware/software tokens. Banks can choose the method provided it is dynamically generated after payment initiation, with exceptions for small in-person card transactions, certain recurring payments, digital tolls, and low-value offline payments; the RBI seeks feedback by September 15 and anticipates compliance within three months after issuing final directions.
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