{"id":85664,"date":"2022-04-27T12:58:31","date_gmt":"2022-04-27T07:58:31","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=85664"},"modified":"2022-04-27T12:58:36","modified_gmt":"2022-04-27T07:58:36","slug":"banks-to-update-consumer-payment-apps-security","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/banks-to-update-consumer-payment-apps-security.html","title":{"rendered":"SBP asks banks to update consumer payment apps&#8217; security"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps for a better service experience, news sources reported. The banks are asked to comply with the new guidelines by December 31, 2022. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/nrps-record-remittances-march-sbp.html\" target=\"_blank\" rel=\"noreferrer noopener\">NRPs sent record remittances during March: SBP<\/a><\/p>\n\n\n\n<p>According to a statement published on the SBP website, the following guidelines were issued to banks: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Banks are urged to create new consumer apps as per international standards and well-established procedures to safeguard the confidentiality and integrity of client data. <\/li><li>App owners (banks) would also create a policy that governs mobile app business objectives, standards, compliance, guidelines, controls, obligations, and liabilities. <\/li><li>Banks may introduce features other than those mandated by the SBP to improve customer experience. <\/li><li>Banks will modify and upgrade their app security architecture annually or whenever there are significant changes in the online payment environment. <\/li><\/ul>\n\n\n\n<p><strong>Read:<\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbp-transaction-limit-asaan-accounts.html\"> <\/a><a href=\"https:\/\/www.zameen.com\/news\/sbp-transaction-limit-asaan-accounts.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP enhances transaction limits for Asaan accounts<\/a><\/p>\n\n\n\n<p>It is worth noting that the SBP has previously asked that banks begin Person-2-Person (P2P) payment options for branchless banking. Similarly, the central bank has invited banks to submit applications for a contactless, branchless banking system to help people in distant areas and the lower middle class gain financial inclusion. In addition, the creation of &#8216;<a href=\"https:\/\/www.zameen.com\/news\/raast-increase-p2p-transaction-limit.html\" target=\"_blank\" rel=\"noreferrer noopener\">Raast<\/a>,&#8217; a digital payment service, was also part of the SBP&#8217;s mission to provide banking solutions to those who do not have traditional bank accounts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps for a better service experience, news sources reported. The banks are asked to comply with the new guidelines by December 31, 2022. Read: NRPs sent record remittances during March: SBP According to a statement published on the SBP website, the following guidelines were issued to banks: Banks are urged to create new consumer apps as per international standards and well-established procedures to safeguard the confidentiality and integrity of client data. App owners (banks) would also create a policy that governs mobile app business objectives, standards, compliance, guidelines, controls, obligations, and liabilities. Banks may introduce features other than those mandated by the SBP to improve customer experience. Banks will modify and upgrade their app security architecture annually or whenever there are significant changes in the online payment environment. Read: SBP enhances transaction limits for Asaan accounts It is worth noting that the SBP has previously asked that banks begin Person-2-Person (P2P) payment options for branchless banking. Similarly, the central bank has invited banks to submit applications for a contactless, branchless banking system to help people in&hellip;<\/p>\n","protected":false},"author":75,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[51621,52112,21853],"persona":[],"class_list":{"0":"post-85664","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-raast-account-limit","10":"tag-sbp-asks-banks-to-update-consumer-payment-apps-security","11":"tag-state-bank-of-pakistan-sbp","12":"cat-15016-id","13":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Banks asked to update consumer payment apps&#039; security - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/banks-to-update-consumer-payment-apps-security.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks asked to update consumer payment apps&#039; security - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/banks-to-update-consumer-payment-apps-security.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-27T07:58:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-27T07:58:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hazafa Hasan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hazafa Hasan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Banks asked to update consumer payment apps' security - Zameen News","description":"Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/banks-to-update-consumer-payment-apps-security.html","og_locale":"en_US","og_type":"article","og_title":"Banks asked to update consumer payment apps' security - Zameen News","og_description":"Karachi: The State Bank of Pakistan (SBP) on Tuesday (April 26) released a circular advising banks to improve the safety of their consumer payment apps","og_url":"https:\/\/www.zameen.com\/news\/banks-to-update-consumer-payment-apps-security.html","og_site_name":"Pakistan Real Estate News &amp; 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