Contrary to media reports that said Reserve Bank has directed banks to adopt Aadhaar, the RBI has advised banks to chose either EMV chip and PIN or Aadhaar’s biometric validation as additional factor for authentication and securing the card present payment infrastructure
Moneylife Digital Team
The Reserve Bank of India (RBI) has said that banks are free to adopt either Euro pay MasterCard Visa (EMV) chip and Pin technology or Aadhaar acceptance as additional factor of authentication for securing the card present payment infrastructure. However, several mainstream media reported that RBI has asked banks to adopt Aadhaar authentication only.
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