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STOCK MARKET BSE 53161.28 433.30(0.82%) NSE 15832.05 132.80(0.85%)
Home Business
'NO PERSON-TO-PERSON TRANSACTIONS VIA FASTAGS': NCPI CLARIFIES ON FRAUD CLAIM
VIDEOS
The National Payments Council of India (NPCI) said in a clarification issued on
Twitter said that these videos circulating on social media are baseless and
false.
SHARE VIA EMAIL
Published: 25th June 2022 09:57 PM | Last Updated: 25th June 2022 09:57 PM
| A+A A-
Image for representational purpose only. (Photo | EPS)
By PTI
NEW DELHI: Dispelling rumours doing the rounds on social media that one should
be cautious while driving on highways as those pretending to clean the glass of
cars can defraud the owner by wiping on FASTag, the NPCI on Saturday clarified
that the payment infrastructure does not allow person-to-person transactions.
These videos circulating on social media are baseless and false, the National
Payments Council of India (NPCI) said in a clarification issued on Twitter.
"NETC FASTag operates only for person-to-merchant (P2M) transactions. No
person-to-person (P2P) transactions are facilitated through NETC FASTag network.
This means an individual cannot receive the money in NETC FASTag ecosystem from
fraudulent transactions. Only authorised system integrators (SI) on behalf of
concessionaires are allowed to participate for specific plazas and initiate
payment transactions," NPCI said.
NPCI further said that the infrastructure deployed between SI
system/concessionaire and banks are secured by whitelisting only permitted IP
addresses and URLs. It said that the hardware installed at the toll plaza data
centre/server room is cryptographically secured through Hardware Security Module
(HSM).
NPCI said that every merchant (toll and parking plazas) on-boarded by it is
allotted a unique plaza code which is done only by authorised acquirer banks
active on the NETC FASTag ecosystem.
"Every acquirer bank is provided with a unique acquire ID (AID). The combination
of the plaza code and bank acquirer ID is mapped at the NPCI end. Geo-location
of every merchant (plaza) has been stored at respective acquirer banks and
NPCI," it stated.
Thus, NPCI said that no transactions can be executed through open internet
connectivity and no financial transactions can be initiated without the enlisted
prerequisites. The payments infrastructure provider said it has already taken
action to respond to such videos and delist them from the social media
platforms.
The National Payments Corporation of India (NPCI) has developed the National
Electronic Toll Collection (NETC) infrastructure. FASTag is a brand name owned
by Indian Highways Management Company Ltd. (IHMCL), which carries out electronic
tolling and other ancillary projects of the National Highway Authorities of
India (NHAI).
--------------------------------------------------------------------------------
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RECENT ARTICLE IN BUSINESS
WHAT DO THE BANK MERGERS ANNOUNCED BY THE FINANCE MINISTER MEAN FOR YOUR
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Don't panic. The actual merger process will take some time. At the end of it,
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