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 -
Both pieces of information collected as location evidence must be non-conflicting.
All this information must be stored by businesses for at least 10 years.