The National Payments Corporation of India (NPCI) on December 26, 2022, issued a Notification regarding Mandating IIN Validation and Check Transaction Status API for Banks and Plazas. This aims to provide a standardized and secure service across all NETC touchpoints and enhance a better customer experience.
Plazas shall fetch a list of active participants from NPCI via Banks on a daily basis using the ‘List Participant’ API and enable IIN Validation for all tags being scanned. This will put a check on Fraudulent IIN Tag Transactions and speed up the update of new participant member details in the ecosystem.
Stakeholders are requested to incorporate these changes in the ecosystem effective January 31, 2023. All the Acquirer Member Banks/ Entities would be required to complete the certification and share confirmation of readiness by January 30, 2022.