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NPCI to offer insurance cover for online fraud transactions

The proposed insurance cover would cover both domestic and international transactions

October 23, 2013 1:16 IST | India Infoline News Service
National Payments Corporation of India (NPCI) has decided to provide an insurance cover for online fraud transactions, according to a media report.

NPCI will tie up with general insurance companies to offer an insurance policy for such frauds. NPCI has called for a Request For Proposal (RFP), the report added.

The proposed insurance cover would cover both domestic and international transactions, all those done by swiping a card, PIN-based transactions on ATMs or points of sale and e-commerce transactions with two-step authentication.

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