https://www.taxtmi.com/news?id=27359 The Reserve Bank highlights rapid growth in digital payments led by UPI and outlines measures to expand adoption, enhance security, and improve settlement. It emphasises user onboarding under the "Har Payment Digital" mission, public-awareness and training programmes, and mandates time-bound resolution of failed transactions with compensation consequences. Security measures noted include additional factor authentication, EMV chip and PIN, tokenisation, data localisation, and mandatory reporting of payment-related frauds to the Central Payments Fraud Information Registry. An interoperable internet-banking payment system to be implemented by NPCI Bharat BillPay Ltd is approved to reduce integration burdens and speed merchant settlements. en-us Mon, 04 Mar 2024 16:57:41 +0530 Mon, 04 Mar 2024 16:57:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=27359 The Reserve Bank highlights rapid growth in digital payments led by UPI and outlines measures to expand adoption, enhance security, and improve settlement. It emphasises user onboarding under the "Har Payment Digital" mission, public-awareness and training programmes, and mandates time-bound resolution of failed transactions with compensation consequences. Security measures noted include additional factor authentication, EMV chip and PIN, tokenisation, data localisation, and mandatory reporting of payment-related frauds to the Central Payments Fraud Information Registry. An interoperable internet-banking payment system to be implemented by NPCI Bharat BillPay Ltd is approved to reduce integration burdens and speed merchant settlements. News - Mon, 04 Mar 2024 16:57:41 +0530 https://www.taxtmi.com/news?id=27359