. http://www.bankinfosecurity.in/payments-security-assessing-challenges-a-8852


Over the past two years, the Indian financial sector has witnessed the dawn of a new age of payments, with many changes in the mobile realm. The industry and customers were accustomed to traditional forms of payment (credit and debit cards, checks and cash) with little to no changes for how transactions were processed.However, things are changing, say experts at the SISA Summit 2016 held recently in Mumbai, who discussed the topic "New Age in Payments," the new payment form factors impacting Indian and inherent security challenges.The panelists included moderator Dharshan Shanthamurthy, CEO, SISA Information Security; Bharat Panchal, head of Risk Management & CISO, NPCI; Vishwas Patel, CEO, Avenues India Pvt. Ltd.; Joel Divekar, GM-Dev Ops, BookMyShow; Rana Sinha Ray, Sr, VP & Head of Technology, Times Money; and Amrish Jain, Head of Technology, Innoviti. The panel says there are more ways than ever to pay for your next transaction or bill, as consumers start adopting to leverage the innovation for ease of payment.These new options range from Near Field Communication, Radio Frequency Identification technology to mobile wallets (Apple/Android/Samsung Pay, or Google Wallet) or even social payments such as the 'Pay with Amazon' button. Payments innovation has only increased challenges for security practitioners. GEETHA NANDIKOTKUR READ MORE