Economic Times ( 29 Oct ) carries following news report
:
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MPFI plan to come
out with user-friendly features
The Mobile Payment Forum of India (MPFI), a think
tank, has set its eyes on coming out with a number of user-friendly features
like voice-based authentication, a top official said.
A joint initiative of the Institute for Development
and Research in Banking Technology, Hyderabad and Rural Technology Business
Incubator, IIT Madras, MPFI's mission "is to enable mobile payments and
financial services through secure, efficient and low cost
transaction."
It played a key role in developing interoperability
and security standards for Immediate Payment Service (IMPS), the basic platform
for mobile payments, and later the Unified Payments Interface (UPI), built
using IMPS.
"MPFI will
focus on futuristic solutions such as voice based authentication and security
and privacy, among others," MPFI Chairman Gaurav Raina said.
Raina, a Professor at Indian Institute of Technology, Madras (IIT-M),
said others like creating user awareness, simplifying message formats for SMS
banking, proximity payments and Near Field Communication (tap and pay) would
also be taken up in the coming months.
For instance, MPFI was working towards
standardisation of message formats for SMS banking across banks, he said.
On voice-based authentication, he said it was being
assumed that there was a certain level of literacy whenever a financial
transaction is done, but the aim was to make it easier for more and more
people.
Further, elderly people may not be
comfortable with other kinds of technology, he said.
"So can we not think of a world
where voice plays a very important role in banking," he said on efforts on
designing voice-based authentication.
Thank
You , Shri Raina
:
Thank you for moving forward to realize what I
envisaged in :
BHIM ; the Unstoppable [
14 April
2017 ]
Inching Forward ? [
20 May
2017 ]
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