Well, improving consumer protection laws is not that straightforward. It involves government and their shitty decision making abilities. You have to pass a bill

Well, improving consumer protection laws is not that straightforward. It involves government and their shitty decision making abilities. You have to pass a bill blah blah. RBI cannot wait for these laws to be enacted. In the interim they've taken these steps and this is not done in a phony manner. Regarding costs - ultimately the consumer will pay for added security - be it the two factor authentication or the chip cards or any other security or protection measure. There's no debate about that. However, in case of a disputed transaction the cards company/Uber will need to own up responsibility which they won't. Well, this authentication is RBI's solution for betterment of people, comes at a convenience cost though. If you think there are better alternatives, it wouldn't hurt to shoot an email to the RBI team. Actually let me see if that's even possible.