RBI issues norms to improve safety of payment systems with fraud monitoring

The RBI on Tuesday said non-bank payment system operators will have to put in place a real-time fraud monitoring solution to identify suspicious transactional behaviour and generate alerts.

Also, non-bank payment system operators (PSOs) will have to ensure that an online session on mobile application is automatically terminated after a fixed period of inactivity and customers are prompted to re-login, according to Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank PSOs.