Credit
card issuing banks are in a fix over Reserve Bank of India’s move to
consider Aadhaar as an additional factor for authentication of credit
card transactions in shops. The reason — a huge investment in upgrading
credit card swipe machines and prospects of losing customers in states
where Aadhaar enrolment has been slow. RBI had constituted a
working group headed by Pulak Kumar Sinha, general manager, State Bank
of India, to study the feasibility of Aadhaar as an additional factor
for authentication of card-swiped transactions and the panel is set to
submit its report by the month-end............
Read - TOI
Read - TOI
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