RBI releases draft rules on AePS touchpoint operators to prevent frauds

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The framework will enable the payments ecosystem to leverage the technological advancements and implement alternative authentication mechanisms, the central bank said.

"Re-KYC post inactivity and risk-profile-based limits are positive steps towards fraud control," Lodha added.

Yahswant Lodha, the co-founder of Paynearby, welcomed the draft guidelines asking for "stringent agent onboarding checks".

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: India

Topics: Information Operators Touchpoint Bank Privacy Diligence Aeps Acquiring Policy Central Draft

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 06:41:54 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 296 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 21882812

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