New e-payment norms likely to block auto-subscriber route: Experts

Avoid exposing your data; use a virtual card instead

When doing an online transaction, we are often asked if we would like to store our card data with the seller. The purpose is to avoid the hassle of entering our card details each time, thus making shopping faster and more convenient. But beginning July this year, things won’t be as simple.

The Reserve Bank of India (RBI) has made it harder for online merchants, payment aggregators and e-commerce websites to store customers’ debit and credit card details.

Manoj Chopra, vice-president and head-products and innovation, Infrasoft Technologies, says, “The circular doesn’t specifically say that entities should not store card data. What it