With reference to digital payments, consider the following statements: 1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank 2. While a chip pin debit card has four factors of authentication, BHIM app has only two factors of authentication. Which of the statements given above is/are correct?

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UPSC Question: With reference to digital payments, consider the following s...

With reference to digital payments, consider the following statements:

BHIM app allows the user to transfer money to anyone with a UPI-enabled bank
While a chip pin debit card has four factors of authentication, BHIM app has only two factors of authentication.

Which of the statements given above is/are correct?