RBI Tightens Security: 2FA Mandatory for Digital Payments

• From April 1, 2026, RBI mandates two-factor authentication for all digital transactions.
• This move aims to enhance digital payment security amidst rising fraud incidents.
• Payment service providers must comply with these new norms for domestic payments.
• New rules promote innovative authentication methods beyond SMS-based OTPs.
• Cross-border transactions are exempt but require extra verification by October 2026.

Source: Inc42