Card Transactions

Mastercard's expense forecast eclipses fourth-quarter profit beat

The forecast follows a 10% jump in fourth-quarter adjusted operating expenses to $2.9 billion, largely due to personnel costs

RBI restricts Paytm Payments Bank from fresh deposits, credit transactions

An audit report revealed "persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action," the central bank said in a release

88% of Industry leaders believe card tokenisation enhanced security: Report

RBI introduced Card-on-File Tokenisation (CoFT) in September 2021 and began implementation on October 1, 2022. So far, over 56 crore tokens have been created

Credit card spending among Indians rises 2.67% to Rs 1.48 trn in August

The transactions at PoS increased by nearly 6.7 per cent to Rs 52,961 crore whereas e-commerce payments jumped to Rs 95,641 crore

IndusInd Bank launches 'virtual commercial card' for cross-border payments

In partnership with Visa and Juspay, the virtual card has additional layers of security that give users complete control over their international expenses, thus making it safe and hassle-free

As credit card transactions rise in India, debit cards take a backseat

Recent data from the Reserve Bank of India (RBI) shows that out of 25 crore card transactions in the month of April this year, 22 crore were credit card transactions

Apple's App Store stopped over $2 bn in fraudulent transactions in 2022

Apple has announced that its App Store prevented over $2.09 bn in potentially fraudulent transactions in 2022, blocking nearly 3.9 mn stolen credit cards from being used to make purchases

Players ready for migration as card-on-file tokenisation deadline nears

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

TMS Ep204: Tiruppur textile, Pallonji Mistry, liquor stocks, tokenisation

How can India create 75 more Tiruppurs? What legacy has Pallonji Mistry left behind? Will fizz return to liquor stocks? What is tokenisation? All answers here

What is tokenisation?

RBI is firm on implementing tokenisation, which will make your debit or credit card transactions more secure. The deadline to implement it has been pushed to Sept 30. Find out what is tokenisation.

Visa creates 100 mn card-on-file tokens following RBI norms last week

The landmark has been achieved in line with RBI's guidelines focusing on security and enhanced checkout experience, said Visa

RBI extends deadline for card tokenisation by another 3 months till Sept 30

Encourages cardholders to tokenise data themselves for preventing fraud

RBI increases limit of e-mandates for transactions up to Rs 15,000

Reserve Bank of India has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for 'card-not-present' transactions

ATM service charges increase, to cost Rs 21 per transaction from Saturday

ATMs across banks are all set to increase service charges per transaction from Saturday, following an order from RBI and customers will have to Rs 1 more beyond permissible free transactions

ATM usage to become expensive from Jan 1: Here's why

Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday.

Visa launches India's 1st card 'token' service for online platforms

Visa's card tokenisation service is currently available with ecommerce platforms such as Grofers, Bigbasket and MakeMyTrip.

US trade official called India's Mastercard ban 'draconian' - emails

The Reserve Bank of India accuses it of breaking local data-storage rules

RBI hikes contactless card transaction limit to Rs 5000 to boost e-payments

Experts said it is a step in the right direction by the RBI and people have been asking it to enhance the limit.

In a first, Mastercard enables one-time password-less transactions

A new mobile-first authentication solution rolled out by the payments major allows such transactions only for deals below Rs 2,000

Demonetisation impact: 'Card transactions soar 84% in Sept to Rs 74,090 cr'

The debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last year when it stood at Rs 40,130 crore, thanks to the government push for non-cash payments, says a study. The transaction volume at all points of sale (POSes) clipped higher by 86 per cent to 378 million in September this year over the same period last year when it stood at 203 million, European payment solutions provider Worldline said in a weekend report quoting the Reserve Bank data. In September 2016 the number stood at 203 million, it added. "With demonetisation, people were pushed to use non- cash modes of payment for everyday expenses. Even after the cash is back to the pre-demonetisation levels, there is a visible growth in card transactions," Deepak Chandnani, chief executive of Worldline South Asia & Middle East, told PTI. The push to increase cards usage started with the Prime Minister Jan Dhan Yojana ...