Merchants seek six more months to meet card data storage norms

Say hasty roll-out may lead to disruptions,loss of revenue

Merchants want at least six more months to implement new card data storage norms as they feel any haste in enforcement may cause major disruptions, erode trust in digital payments and lead to a loss of revenue.

The system, including banking entities, is still not ready to comply with the Reserve Bank of India’s (RBI’s) card-on-file tokenisation deadline of December 31, 2021.

The Merchant Payments Alliance of India (MPAI) and the Alliance of Digital India Foundation (ADIF), in a letter to the RBI, sought phased implementation of the norms.

Merchants should get a minimum six months to comply after readiness of banks, card