Debit Card

RBI partially eases curbs on SBM Bank till Mar 15 for customers' relief

On Jan 23, RBI had asked the lender to immediately stop transactions under LRS, following certain material supervisory concerns observed in the bank

Cabinet clears Rs 2,600 cr scheme to promote RuPay debit card: Officials

The Cabinet on Wednesday approved a Rs 2,600 crore scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year. It would help in building a robust digital payment ecosystem. The scheme would also promote UPI Lite and UPI123PAY as economical and user-friendly digital payments. "Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (Person-to-Merchant)," said an official tweet.

Credit card use at PoS higher than at e-com sites in July-Sept: Report

Attributes trend to value-added services such as EMI and BNPL which are allowing consumers to use cards for big-ticket transactions, as opposed to small-ticket earlier

Fintech firms seek six month-extension to comply with RBI credit line norms

RBI had barred the loading of prepaid payment instruments (PPIs) from credit lines

Australian watchdog sues Mastercard for anti-competitive practices

The ACCC investigated allegations that Mastercard engaged in anti-competitive conduct by offering certain large merchants cheaper interchange rates

Visa, Amazon reach global deal over payment fees

This agreement includes the acceptance of Visa at all Amazon stores and sites

City Union Bank launches fitness watch debit card in tie-up with GOQii

Customers need to hold the wristwatch in front of the PoS device during payment like tapping the card on PoS. For payments above Rs 5,000, customers need to tap and enter their PIN

To avoid Covid-19 risk, switch to contactless cards before festive shopping

However, beware that if they're stolen, a few transactions of below Rs 2,000 can be made

IDFC First Bank to launch contactless debit card payment on phone next week

SafePay enables contactless payments of up to Rs 2,000 per transaction and up to a limit of Rs 20,000 per day

Wirecard scrambles to find missing $2.1 bn, shares slump over 60%

Chief Executive Markus Braun said in Thursday's statement that Wirecard, which was founded in 1999, was urgently seeking to clarify the balances in question.

30 mn debit, credit card details of WaWa customers up for sale online

WaWa has offered free credit monitoring and identify theft protection to customers.

Forex cards are a cheaper, value-loaded option for international travel

Forex card scores over other instruments because it has several benefits

Visa talks tough on govt's move towards no-fee debit card transaction

Visa critical of India's move towards no-fee debit card transactions

Proposed debit card rate not lucrative, says PCI

PCI adds, further reduction in MDR will discourage future investments, affecting e-payments industry

Congress demands full disclosure on debit card data breach

The party ridiculed PM Narendra Modi over the potential breach of debit cards security