 "Visa, Master card")
On February 7, the Reserve Bank of India (RBI) announced the implementation of Additional Factor Authentication (AFA) for cross-border “Card Not Present” (CNP) transactions. With the volume of international shopping and subscriptions to services rising, this measure aims to strengthen security for cardholders.
“AFA has already proved its effectiveness in reducing fraud in the domestic digital payment ecosystem. Until now, AFA was not mandated for international transactions. But with the growing numbers and adoption of digital payments, it was only a matter of time,” says Venkat Narayanan, associate vice-president-products, Worldline.
Likely modus operandi
Many people subscribe to international services requiring
