India, Feb. 7 -- The Reserve Bank of India (RBI) on Friday, announced its plans to introduce Additional Factor of Authentication (AFA) for cross-border "Card Not Present" (CNP) transactions to enhance the security of online payments.
This will bring international digital transactions made using Indian-issued cards under the same security standards that have been applied to domestic transactions, according to a Business Standard report.HT cannot independently verify this information.
As of now, an extra layer of verification like through a One-Time Password (OTP) or biometric authentication exists for domestic transactions which reduces fraud when making online payments.
However, this didn't apply to international transactions till now....
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