WhAT businesses need to do

For each transaction, businesses will be required to collect two of the following pieces of information as proof of location of their customers -

  • Customer’s billing address.
  • The IP address of the device used by the customer.
  • Location of the bank from which payment was made.
  • The country code of SIM card used by the customer.
  • The location of the customer’s fixed land line.
  • Credit Card’s BIN

TWO CRUCIAL THINGS TO KEEP IN MIND -

  1. Both pieces of information collected as location evidence must be non-conflicting.

  2. All this information must be stored by businesses for at least 10 years.