NPCI Explores Biometric Authentication for UPI Payments
- The National Payments Corporation of India (NPCI) is in talks with startups to implement biometric authentication for UPI payments. - Currently, UPI uses a PIN as the second-factor authentication, similar to OTP for card payments. - Biometric authentication would allow users to use fingerprints on Android and face ID on iPhones instead of a PIN. - This move follows RBI's proposal for banks to explore alternative payment authentication methods to reduce financial frauds. - Device binding through SMS remains the primary factor authentication for UPI. Source: https://www.moneycontrol.com/technology/npci-talks-to-startups-on-biometric-authentication-for-upi-payments-article-12788026.html
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https://techcrunch.com/2024/05/09/india-weighs-delaying-caps-on-upi-market-share-in-win-for-phonepe-google-pay/
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