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RBI tightens e-mandate norms, mandates additional authentication for recurring payments above ₹15,000
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RBI tightens e-mandate norms, mandates additional authentication for recurring payments above ₹15,000
Mumbai: The Reserve Bank of India (RBI) on Tuesday issued consolidated guidelines for e-mandates in digital payments, mandating an additional factor of authentication (AFA) to enhance the security of recurring transactions. The new norms are applicable to all payment system providers and participants handling auto-debit payments across cards, prepaid payment instruments, and the Unified Payments Interface (UPI), covering both domestic and cross…
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