The Reserve Bank of India has taken a big step regarding digital payment. In fact, the Reserve Bank of India has issued new rules to make digital payment more secure and reliable on Thursday 25 September. Under these rules, online transactions will not be done only on SMS based OTP, but now customers will be able to pay with fingerprint, face recognition, password, pin or other biometric options. At the same time, these new rules will be implemented from 1 April 2026.

Now two factor authentication will be stronger

Currently, most banks and payment apps use only OTPs to confirm transactions. However, even after the new rules, the use of OTP will continue as before. But this will not be the only option of payment. Now under the new rules of the Reserve Bank of India, three categories will be valid for verification.

1. Any item near the user-The mobile, hardware token

2. The information that users know- Such as password, pin or nearby frame

3. Identification of user- Such as biometric, fingerprint, face recognition

Now every transaction will have unique verification

Regarding the new rules, the RBI has clearly stated that every payment will definitely have at least one such authentication factor which will be different and new for that transaction. This means that the old or repeated code will no longer work, which will reduce the possibility of fraud. At the same time, after these changes, banks and payment provides will now be able to do risk analysis for the safety of transactions. This will include the location of transaction, user behavior, device information and previous transactions. At the same time, safe platforms like extra verification and digital locker can be used on more danger payments.

Violation and compensation of rules

Under the new rules, if the customer’s money is lost in digital fraud due to not following the new rules from any financial institution and negligence, then the concerned institution will have to make complete compensation for that loss. Apart from this, these strict verification rules will also be implemented in card not present type foreign transactions from 1 October 2026. This step will be especially for transactions that are taken outside India.

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Rbi new online payment rule: The Reserve Bank of India has made some necessary changes to make digital payments more secure. Which will be implemented from April 1, 2026. RBI is going to do two-factor authentication in digital payments. Apart from SMS OTP, transactions will be identified in many new ways like password, fingerprint and biometrics. The RBI wants to make online transactions more secure and convenient in these ways. So that people can be protected from fraud and cybercrime.

RBI has announced that the new rules of digital payment will be implemented from April 1. The RBI has given strict guidelines that if the customers who do not follow these rules during these online payments, will have to make complete compensation for their losses themselves.

Which will be the new ways?

RBI has informed that in addition to SMS OTP, options like password, passfrez PIN, debit card, software token, fingerprint or biometrics can be used for two-factor authentication. RBI has clearly stated that two factor authentication will be mandatory, as well as SMS OTP can also be used.

Why is it needed?

The number of people making online payments in India is increasing every day, as well as the crime of cyber criminals. Today, almost everyone in India is using online payment mode. Online payment is being accepted today from small shops to vegetable carts. It has reached almost every hand in India today, but the problem stands there, where there is talk of protecting people from cyber criminals.

People often get cheated online and they lose their years of earnings. People are getting digital arrests and they are hesitant to inform the police and lose their hard earned money. Keeping all these things in mind, RBI has said to implement two-factor authentication.

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