New Delhi: A platform to be set up by the government for any entity such as a bank or financial institution to verify a mobile phone number to check online frauds like phishing could open up a new revenue stream for telecom operators as they will get a fee for every verification request. While the Department of Telecommunications (DoT) has not yet finalised the fee, it will be done in the coming months when the platform will be launched, officials told ET.
"The verification fee can be shared between the government and telcos. The telcos will be mandated to onboard the platform for verification requests," said an official, who did not wish to be identified.
Other entities, such as banks and financial institutions, can use the service voluntarily as per their requirements, but they will not be mandated to adopt the service.
The mobile number verification (MNV) platform will be set up as part of the new telecom cybersecurity rules, which were notified recently. The platform will be a key tool to tackle increasing frauds, including phishing, as it will help in verifying the ownership of the mobile number.
Currently, there is no legal mechanism which ensures that the mobile numbers linked to bank accounts truly belong to the account holders. To plug this gap, the MNV platform will let banks and fintech firms verify ownership of telephone numbers directly with telecom providers.
The telcos wanted to fix the fee themselves, but the DoT has rejected the request and will finalise the fee after consultations with stakeholders. In the draft cybersecurity rules, the DoT had prescribed a fee of Rs 1.5-3 per request, but it has been removed in the final rules that have been notified. The DoT will notify the fees separately when the platform is launched.
"The verification fee can be shared between the government and telcos. The telcos will be mandated to onboard the platform for verification requests," said an official, who did not wish to be identified.
Other entities, such as banks and financial institutions, can use the service voluntarily as per their requirements, but they will not be mandated to adopt the service.
The mobile number verification (MNV) platform will be set up as part of the new telecom cybersecurity rules, which were notified recently. The platform will be a key tool to tackle increasing frauds, including phishing, as it will help in verifying the ownership of the mobile number.
Currently, there is no legal mechanism which ensures that the mobile numbers linked to bank accounts truly belong to the account holders. To plug this gap, the MNV platform will let banks and fintech firms verify ownership of telephone numbers directly with telecom providers.
The telcos wanted to fix the fee themselves, but the DoT has rejected the request and will finalise the fee after consultations with stakeholders. In the draft cybersecurity rules, the DoT had prescribed a fee of Rs 1.5-3 per request, but it has been removed in the final rules that have been notified. The DoT will notify the fees separately when the platform is launched.
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