As the digitization has hit hard on the world trends it has changed major shopping habits of the people all around the globe. Indian markets have also been seeing digitization and the help from the e commerce sector has given it the boost that it required.
Indian markets are huge and their spending in the e commerce has been very crucial to the economy and has generated amazing revenue as digital transactions rise and the risk of the frauds in digital world are rising there are more security parameters being added to the digital transactions. While OTP (One Time Password) was amazing for authentication it has now become obsolete. And new OTP less shopping is being introduced by VISA and Mastercard. VISA will allow this through Visa Safe Click’ (VSC) which will be across all the online merchants if not at least on the leading ones for sure. VSC is a lightweight software plug-in for the phones through a mobile app which uses cryptographic validation along with Visa’s global risk engine. We are seeing this revolutionary technology in the Indian markets and it will be changing the entire scene of the Indian markets and also change the shopping habits of people all around the globe.
The launch of this in the Indian market will the test the platform ad India is very harsh on the use of technology and there is sure to be some hiccup caused due to the weird habits of the Indian markets. So a lot is expected from the new service form VISA.
Tags : OTP, Shopping, Indian markets, e commerce, VISA and Mastercard, online merchants,