Indian government ponders over biometric multi-factor authentication

Friday 21 February 2020 10:35 CET | News

The Indian government has been considering implementing multi-factor authentication for digital transactions in the country to boost payment security.

Furthermore, the government aims to encourage more digital business with biometrics such as facial and iris recognition, Biometric Update cited Business Insider. When it comes to digital transactions, Indian authorities consider moving beyond passwords and one-time passwords (OTPs), as are mandated for UPI and payment apps such as PhonePe and Google Pay by the Reserve Bank of India (RBI).

New multi-factor rules could include requirements for biometric and location checks, possibly through mobile devices, though iris biometrics are not supported by most smartphones.

Some banking apps currently require location tracking to complete transactions, as a fraud prevention and mitigation mechanism. RBI has been working on establishing new rules to allow remote online onboarding leveraging Aadhaar biometrics for bank accounts to improve financial inclusion in the country. Aadhaar is used for eKYC in more than 100 million transactions some months.
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Keywords: indian government, India, biometric, eKYC, Aadhaar, Multi Factor Authentication, fraud prevention
Categories: Fraud & Financial Crime
Countries: India
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Fraud & Financial Crime

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