Mint Explainer: How additional factor authentication will secure online international payments

MUMBAI : In a significant move to strengthen the digital payment security framework, the Reserve Bank of India has proposed to enable additional factor authentication for international card-not-present transactions. The move aims to provide Indian consumers with an additional layer of security when dealing with foreign merchants, ensuring a safety net comparable to domestic transactions, where additional factor authentication is already mandatory. “By introducing AFA for international card-not-present transactions, the RBI is adding an extra layer of security that can help prevent unauthorized transactions," said Adhil Shetty, chief executive, BankBazaar.com. Experts also highlight that the implementation of AFA will align international transactions with the robust security standards already in place for domestic payments.