Updated By: LatestGKGS Desk
RBI ends verification process till digital payments of Rs.2000
The Reserve Bank of India ends two step verification process till the limit of Rs.2000 using ATM Cards.
To avail this service, the accountholder needs to register at their respective banks and then the card will not need to give further details.
This feature of the banks will enable the customers to save time for digital transactions.
There were different steps of verification while conducting online transactions website verification generating OTP
Firstly, while making online payments, the customer need to enter the website of the merchant in detail and then the banks verify the details of the merchant.
After the verification of the merchant’s website, it is informed via message at the registered accountholder’s number and OTP is generated.
After generating OTP and entering the number, the final verification is done.
With the decision of RBI, there is no need for the verification till payment of Rs.2000.
