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GR-6.3.13

Past version: Effective from 01 Apr 2019 to 30 Jun 2021
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Conventional retail bank licensees, PISPs and AISPs must adopt security measures that meet the following requirements:

(a) the authentication code generated must be specific to the amount of the payment transaction and the payee agreed to by the payer when initiating the transaction; and
(b) the authentication code accepted by the licensee maintaining customer account corresponds to the original specific amount of the payment transaction and to the payee agreed to by the payer;
(c) a SMS message must be sent to the customer upon accessing the online portal or application and when a transaction is initiated;
(d) any change to the amount or the payee must result in the invalidation of the authentication code generated.
Added: April 2019