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    News in brief

    India gets PIN-free contactless payments

    News in brief

    Contactless users in India can make payments of up to Rs2,000 (US$31) without using a PIN, following the Reserve Bank of India’s relaxation of its requirement for two-factor authentication. “Beyond this transaction limit the card has to be processed as a contact payment, and authentication with PIN will be mandatory,” the bank says. “Banks have been advised to put in place suitable velocity checks as considered appropriate.”

    Filed by Email Rian Boden Published • Last updated 15 May 2015, 13:31

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