Definition
Limit-Based Transaction Control is a security feature that allows users to set daily or per-transaction limits on payments from their account or app. This helps prevent fraud and unauthorized transactions.
Key Features
- Set spending limits for different transaction types
- Protects against misuse of account
- Allows flexible control via mobile app or net banking
- Alerts when limits are reached
This feature is useful for budgeting and enhancing security for online and offline payments.
Author
