NPCI in discussion for introducing biometric authentication for UPI payments
By MYBRANDBOOK
The National Payments Corporation of India (NPCI) is reportedly in talks with a few startups to enable biometric authentication for the mobile-based UPI payments. UPI uses a personal identification number (PIN) as the second-factor authentication for mobile payments as of now. Primary factor authentication is the device binding done through SMS, when customers enroll for UPI on their mobile devices.
Enabling biometrics would mean that consumers will use their fingerprint on the Android platform and face ID on iPhones for UPI transactions, instead of four or six-digit UPI PIN.
While the primary initiative on alternative payment authentication started more than three years ago, the urgency now stems from the Reserve Bank of India’s concern about multiple UPI scams that keep happening because of PIN-related frauds.
Last week, the regulator published a framework for alternative payment authentication other than OTP for card transactions. The regulator prefers behavioural risk patterns and biometrics over other means as of now.
“In order to enable the payments ecosystem to leverage the technological advancements and implement alternative authentication mechanisms, it has been decided to publish a Framework on Alternative Authentication Mechanisms for Digital Payment Transactions,” the RBI statement said.
While NPCI tried accessing Digilocker for enabling biometrics, it was not successful and hence started exploring partnerships with startups.
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