Debit Card Payment

The first factor of authentication and the AFA would have to be from different categories, the RBI has stated

Digital payments platform Visa on Tuesday said it has appointed Sujai Raina as the country manager for India. Besides, Sandeep Ghosh will continue in his role as Group Country Manager for India and South Asia. He will oversee operations in India and other markets in the subcontinent, including Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives, Visa said in a statement. Raina will be responsible for the India business, leading and executing Visa's strategic initiatives for the market, partnering with clients and the payments ecosystem. In addition to his responsibilities as Country Manager, he will continue to lead business development for Visa in India, the statement said. Raina joined Visa in 2020 and previously served as Vice President and Head of Business Development, India. "India's growth trajectory, and the scale and sophistication of its payment systems, presents a significant opportunity for the continued growth of secure digital payments, driving cash displacement, ..

The RBI has clarified that business credit cards will continue to function as usual

Business-to-business payments via cards include payments by businesses to their vendors and in some cases tax payments by small units

To drive card payments and reduce dependence on cash, the government had abolished merchant service fees on transactions with state-owned RuPay cards from January 2020.

Airtel Payments Bank is experiencing "strong tailwinds of demand", and will grow its banking points and deepen product offering range this year, as it looks to raise customer count and average realisation per user, according to CEO Anubrata Biswas. Airtel Payments Bank will also launch its physical debit card for rural banking consumers in September quarter (Q2FY24), having launched it already in urban markets. "We are experiencing strong tailwinds of demand, and keeping our focus on consumer choice, sustainable model and costs...The opportunity is limitless as long as we stay focused on solving consumer needs and problems," Biswas told PTI. The payments bank has grown by a CAGR of 35-40 per cent between mid 2018 and mid 2023, and expects to close the June quarter (Q1) with an annualised run rate of Rs 1,600 crore. "Today our Average Revenue Per User (ARPU) is in low 20s (in rupee terms), and as our product penetration increases, and cross-sell efforts increase, our ARPU will go up

Paytm had been providing all-in-one POS machines to check-out counters across the country, which were earlier only available for bank payments

Prime Day deals are limited to customers who have bought Amazon's paid Prime subscription

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

A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

MPAI and ADIF have in their letter highlighted several operational challenges that will hinder the transition to the token-based payments ecosystem

People are choosing not to get cash to shop but actually using their debit cards to shop now, he said

Many banks, merchants not fully compliant yet despite extension of deadline

If bank and service provider are not compliant, pay manually, or give standing instruction linked to bank a/c

Regulating how payment facilitators store customers' card details and auto-renewal of payments puts industry at crossroads.

The unsuccessful auto-debit requests through the NACH platform are generally referred to as bounce rates

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

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

With social distancing becoming the new norm, there is a behavioural shift across all consumer categories