"We have a 'tap and go' method wherein the second factor authentication is required. We are working on that and may be in a couple of months we will issue some guidelines for  a certain amount of transaction (for which) the second factor authentication is not required," he told reporters at the launch of SBI's Tech Learning Centre for customers.
He said there are some issues in removing the second-factor authentication and the RBI is in discussions with banks and Nasscom for the same.
On the payment controversy involving the US-based taxi aggregator Uber, Khan said RBI had reservations over the card details of customers going abroad as the tax-aggregate has been surpassing the second factor authentication while receiving payments.

It can be noted that RBI in August had asked Uber to stop single-factor authentication payments by October end, following which the company had tied up a payment service provider Paytm.

He also said in-store mobile banking, which allows mobile to mobile transfer of money has a huge potential.

Khan said the country is a cash-incentive economy and the objective of the central bank is to move towards a near zero cash society.
"To replace cash we need acceptable products, simple to use and ease of operations. Such products should be available and should be affordable," he said, adding one of  the areas where RBI is focusing now is on mobile banking as the density of mobile banking is not very high.
"Though volume in mobile banking has increased it has not gone that high," he said.

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