...........No one will quibble with the regulator when it says that security is the paramount consideration when framing rules for online payments. But is it anyone's case that we can have either security or convenience, but not both? The RBI can definitely do better. It must change the rules to permit single-factor authentication while putting in place adequate security safeguards. Users must know clearly what they are signing up for, and all security certifications must be in place.Grievance redressal must be swift and violators must be given exemplary punishments. All the same, the components of the ecosystem -merchants, credit card firms, third-party wallets, phone companies and app stores -also have to conduct themselves responsibly and not jeopardise their own prospects.........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment