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why cant credit card transactions be mandated to go through a second layer of auth that is not present on the card? in india, the banking regulator RBI, forced
by saurabhnanda 12y ago
why cant credit card transactions be mandated to go through a second layer of auth that is not present on the card? in india, the banking regulator RBI, forced this a few years ago and the CNP fraud rates tanked to negligible levels. All domestic transactions now go through a 3d-secure or OTP process.
- Tarang 12y agoIt decreases the chances of successful legitimate transactions just as a barrier to completing payment. In India nearly 1/3 of card based transactions online don't go through successfully. I.e want to order pizza but the phone battery is dead (so no 2fa/otp)