Updated By: LatestGKGS Desk
RBI orders to Digital Payment apps to provide security features
Digital payment apps offering more security features by the orders of Reserve Bank of India
Reserve Bank of India has told PPI companies to do special audit from the Security Auditors who are linked with Computer Emergency Response Team (CERT).
The PPI companies are also told to take actions according to the rules laid down.
Government told financial sector to conduct audit from National Payment Corporation of India
A system audit will also include evaluation of hardware structure, operating systems and critical operations, beside the security and controls.
After the notification issued by RBI, Paytm introduced app password to protect the wallet if the phone is lost or misplaced.
MobiKwik also launched M-Pin, an updated version with more security features allowing the user to access the wallet even if the mobile phone is lost or stolen.
