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IVR - IVR Bank Transactions Given Extension and OTP Guidelines
January 04, 2011

IVR Bank Transactions Given Extension and OTP Guidelines



By Jaclyn Allard, TMCnet Copy Editor


On Feb. 18, 2009, a directive was issued, by the Reserve Bank of India (RBI), making it mandatory for banks to put in place additional authentication/validation based on information not visible on credit and debit cards for all on-line card not present (CNP) transactions except IVR transactions. After extensive deliberations, security measures were to be extended to all CNP transactions including IVR transactions, and the change to be implemented no later than Jan. 1. The RBI has recently extended the IVR system authentication to Jan. 31.


Therefore, IVR-based mobile transactions will be allowed through without proper additional authentication until this date.

The original RBI guidelines issued on Feb. 18, 2009, required that online transactions had an additional alpha-numeric 3D secure password, but IVR systems could not allow the same password since it contained alphabetic characters. A six digit one-time password (OTP) developed by banks was the solution to this problem, in which the bank directly sends the code to customer upon request.

For example, as Abhishek Rajan, head of Mobile Commerce Business at One97 Communications, explains, the body of an SMS will contain a keyword and the last four digits of a credit/debit card number. The user will receive a password that is valid for a designated period of time, and for only one transaction. In case the customer forgets to generate an OTP before the transaction, a bank will automatically send one after card details are entered on the IVR. The OTP expires after one use. Customers will need to generate an OTP before each IVR-based transaction using the mobile number registered with the bank.

In other industry news, Plum Voice’s QuickFuse IVR product has received TMC’s (News - Alert) Customer Interaction Solutions magazine’s award for Product of the Year.

Plum Voice, provider of IVR systems and voice application services, developed QuickFuse to simplify IVR application development, while offering a totally visual interface for managers. The interface allows for the construction of call flows.


Jaclyn Allard is a TMCnet copy editor. She most recently worked on the production team at Juran Institute, a quality consulting firm producing its own training and marketing materials. Previously, she interned at Curbstone Press, a nonprofit publishing press in Willimantic, CT, and fulfilled the role of Editor-in-Chief for the literature and arts journal published by the University of Connecticut. To read more of her articles, please visit her columnist page.

Edited by Jaclyn Allard

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