RBI wants you to fill the entire card details for every online payment

Navjot Singh

Navjot Singh

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Soon, You May Have To Memorise 16-Digit Number For Online Payments

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If the RBI has its way, the CVV number alone may not be enough to undertake online transactions. The central bank is planning to make it mandatory for customers to enter all their card details i.e. name, 16-digit card number and expiry date, and CVV for every online payment, in an attempt to secure the card information. The new regulations are likely to kick in from January of 2022, according to media reports.

The revised rules will mean that everytime one makes a purchase on Amazon and Flipkart, pays through Paytm and Google Pay, or renews subscription on Netflix, the details will have to be typed anew.
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Why have OTPs then. I thought the point of otp was to add a second layer of authentication to avoid this
 
I think this is a lazy way to save data theft from data breaches on Indian companies. Why investigate and punish them when you can punish the customer.

Next they would ask users to fill in address every time.
 
UPI fraud are no problems. Made in India tech bankrupting people by emptying their bank accounts.

Isn't net banking already complicated enough? Logging into online bank websites is so messy. Every fucking time... Password hasn't been changed in 3 months. Change it now to proceed 🤬
 
Sushubh said:
Password hasn't been changed in 3 months.
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This has actually forced me to go for Bitwarden.
On another note, didn't we had to enter the card number, cvv details, name etc while using debit card back in 2013-14. I remember both me and my masi had memorized my mama's card number, cvv for online transactions.
 

Sushubh said:
UPI fraud are no problems. Made in India tech bankrupting people by emptying their bank accounts.

Isn't net banking already complicated enough? Logging into online bank websites is so messy. Every fucking time... Password hasn't been changed in 3 months. Change it now to proceed 🤬
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My Citibank password is not changed in 5 or 10 years :D
But I have to change other bank's password every 3 months.
 
Although this is unrelated here we go.

www.reuters.com

Exclusive: India found cybersecurity lapses at National Payments Corp in 2019 - government document

A government audit of India's flagship payments processor last year found more than 40 security vulnerabilities including several it called "critical" and "high" risk, according to an internal government document seen by Reuters.
www.reuters.com www.reuters.com
2020 Article

And then block two leading payment method Card facilitators.
I mean make yours on par with the leading brands and then try banning them.

Yubikey is also a good option for safe netbanking
 

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