Reserve Bank of India (RBI) impeded MasterCard from issuing new cards to national customers from July 22, over violating data storage regulations without harming the existing customers. Meanwhile, the RBL Bank has signed a contract with Visa Worldwide to issue new credit cards. Approximately, there are 3 million credit card customers under RBL and is the fifth largest credit card issuer in the country.
Courtesy: Hindustan Times
Paytm has extended its rent payment service to include shop rents, property deposits, token amount, brokerage and other services. Offering assured cashback up to Rs 10,000 on rent payments made through credit cards, Paytm said the service will enable users keep a track on their expenses. The rent payments can be made from the “Recharge & Pay Bills" section to the beneficiary via Paytm UPI, net banking and debit card.
Courtesy: The Times of India
About 45 lakh Air India passengers data stored in its database ‘SITA PSS’ was stolen in a cyber-attack, the airlines confirmed on May 21. The data stolen includes passports, credit cards and contact details of passengers registered between August 26, 2011 and February 3, 2021. However, assuring remedial actions, the national carrier asserted that no passwords are affected and CVV or CVS numbers on credit cards are not stored.
Courtesy: The New Indian Express
Paytm will soon facilitate merchants to use android smartphones to receive Near Field Communication (NFC)-enabled debit and credit card payments from the 'Paytm for Business' App. Powered by Software Point-of-Sale (SoftPoS) technology, the fintech major's latest multilingual service, dubbed 'Paytm Smart POS', modifies a smartphone to accept payments by simply tapping the card on the phone's back. Reportedly, Paytm has already tested its soft-… read-more
The Reserve Bank of India on December 2 ordered HDFC Bank to halt its all upcoming projects related to digital transactions and stop issuing new credit cards. The order cited recent outages in HDFC's internet banking services, including the latest outage of November 21, as reason. Besides, the order has also mandated HDFC to examine the shortcomings. However, the bank's existing operations will remain intact.
Courtesy: Zee News