Debit Card Payment
Industry prepared for potential disruptions as tokenisation nears
industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through
 "Industry prepared for potential disruptions as tokenisation nears")
Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know
A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing
 "Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know")
Credit cards gain more currency pipping debit cards for e-commerce
They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans
 "Credit cards gain more currency pipping debit cards for e-commerce")
MPAI, ADIF write to RBI for an extension of tokenisation deadline
MPAI and ADIF have in their letter highlighted several operational challenges that will hinder the transition to the token-based payments ecosystem
 "MPAI, ADIF write to RBI for an extension of tokenisation deadline")
Covid-19 caused permanent shift to digital payments, says Visa CEO
People are choosing not to get cash to shop but actually using their debit cards to shop now, he said
New recurring payment norms: 20 days later, people still face disruptions
Many banks, merchants not fully compliant yet despite extension of deadline
 "New recurring payment norms: 20 days later, people still face disruptions")
Prevent auto-debit failures by registering once again, say experts
If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c
 "Prevent auto-debit failures by registering once again, say experts")
Customers in limbo as banks, payments firms, RBI seek to settle 2 issues
Regulating how payment facilitators store customers' card details and auto-renewal of payments puts industry at crossroads.
 "Customers in limbo as banks, payments firms, RBI seek to settle 2 issues")
Second wave impact: Auto debit payment bounce rate increases further in May
The unsuccessful auto-debit requests through the NACH platform are generally referred to as bounce rates
 "Second wave impact: Auto debit payment bounce rate increases further in May")
Pine Labs launches AllTap app to turn phone into payment acceptance device
With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone
 "Pine Labs launches AllTap app to turn phone into payment acceptance device")
The zero MDR has affected the PoS business: Worldline's Deepak Chandnani
India has some 5.2 million PoS units, but a country of our size needs more, DEEPAK CHANDNANI, managing director, Worldline (South Asia and the Middle East), tells Raghu Mohan
 "The zero MDR has affected the PoS business: Worldline's Deepak Chandnani")
India's a digital payments hotspot
With social distancing becoming the new norm, there is a behavioural shift across all consumer categories
 "India's a digital payments hotspot")
Covid-19 crisis: Payments fall 46% in April; ATM cash withdrawal declines
Retail payments fall 45%, card usage slips 57%
 "Covid-19 crisis: Payments fall 46% in April; ATM cash withdrawal declines")
Now, switch on/off your card for online payment, set transaction limits
Facilities can be activated only when the customer specifically requests for it
 "Now, switch on/off your card for online payment, set transaction limits")
Some banks begin levying MDR charges on debit card payments
Some banks have also extended free-of-charge withdrawals from ATMs till March 31
 "Some banks begin levying MDR charges on debit card payments")
