The National Payments Corporation of India
(NPCI) has announced that its pin-only RuPay debit cards will be
able to be used for online transactions, using pin-based
authentication.
The NPCI has partnered with Acculynk, a debit
card payments security specialist that will support RuPay cards
with PaySecure, a solution that allows e-shoppers to enter their
existing debit card and PIN numbers to complete online
transactions.
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A P Hota, NPCI’s MD and CEO, said:
“RuPay cardholders will be able to make RuPay
debit card purchases online using the mandated two factor
authentication. We expect to bring millions of RuPay consumers to
e-commerce,”
Pin-based authentication reinforces NPCI’s
RuPay cards capabilities, launched in March with four other banks
as a PIN-only based debit card that could be used both at ATMs and
POS.
Ashish Bahl, Acculynk’s CEO, said:
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By GlobalData“Secure internet PIN debit is the future of
global e-commerce as the majority of card payments markets outside
the U.S. are PIN-debit based.”
Nandan Sheth, Acculynk’s President and COO,
highlighted that India is one of the fastest growing countries for
payments in the world and “the first of many more debit-centric
markets to come in Southeast Asia, the Pacific Rim and Latin
America”.
