E-commerce sites & banks need to integrate: RBI

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HRKHANReserve Bank Deputy Governor H R Khan said there is a greater need for collaboration between banks and the e-commerce players.

“E-commerce sites and banks need to integrate. There can be various ways of collaboration such as joint ventures,” Khan said.

Moreover, as the e-commerce companies have been asking for relaxation of the two-factor authentication process, Khan emphasised on the use of prepaid instruments for for small payments.