New Delhi, March 31 -- Starting 1 April, the Reserve Bank of India (RBI) will require all digital payments to be authenticated using at least two independent factors, tightening security across cards, UPI and wallets. This means a single factor, such as a PIN or an OTP, will no longer suffice.

The move comes as digital frauds surge and aims to plug gaps in systems that rely on a single layer of verification. Will this help curb digital frauds? Mint explains.

What changes under RBI's two-factor authentication (2FA) rule?

From 1 April, all digital transactions must be verified using at least two independent authentication factors-such as a personal identification number (PIN), a one-time password (OTP) or biometric-with at least one fact...