Page 9 - Credit Cards

IBA seeks probe into possible cartelisation by chip-based card suppliers

The Indian Banks' Association (IBA) has sought a probe by the Competition Commission into possible cartelisation among vendors providing chip-based debit and credit cards to banks. IBA has received complaints of jacking up of card prices by various vendors, citing shortage of chips, and the hike in the prices is in a similar range, raising fears of cartellisation, sources said. Following the complaints, IBA has written a letter to the Competition Commission of India (CCI) seeking a probe into the issue and has also intimated the finance ministry about the matter. According to a senior bank official, last year, 4-5 large card vendors approached lenders saying that shortage of chip has led to an increase in the prices. So, all banks agreed for a rise in the prices of cards from Rs 35 to about Rs 42 per unit, the official added. Three months ago, these vendors again approached the banks, saying the prices have further increased. However, only large private bank agreed for another Rs

Credit card spends touch all-time high of Rs 1.16 trillion in July

Spends have topped Rs 1 trillion level for five consecutive months now

Tata Neu, HDFC Bank partner to launch two co-branded credit card variants

Tata Neu customers can apply for the cards on the Tata Neu app and access its key details; Each of the two variants of the card will be available on both RuPay and Visa networks

Banks must ensure credit schemes reach eligible citizens: FM Sitharaman

'Difficult situation' caused by unintended people getting benefits of credit programmes now over, she says

June credit card spends remain above Rs 1 trillion-mark, shows data

Notwithstanding MoM decline, spends up fourth month on the trot

Linking RuPay credit cards with UPI a game-changer, but pain points remain

It could well be argued that had UPI been profitable for banks, they may have been able to settle for a lower MDR on RuPay credit cards

Pre-paid card comeback may have bolstered the case for NBFCs' plastic play

With pre-paid card players back at the drawing board, the case for the entry of NBFCs into plastic may have got stronger

Credit card spend hits new high in May; bounce rates by value at 3-year low

Bounce rates by value at three-year low

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

How credit card route to UPI may come at a price for merchants

Smaller merchants can be subsidised to make it work

RBI allows credit cards to be linked to UPI; marks shift from 'pay now'

Initially, home-grown card network Rupay Credit cards will be linked with UPI

Credit card spend jumps 48% to top Rs 1 trillion in March, shows data

The jump has been driven by the pickup in consumption as the pandemic recedes

How to make the most of RBI's new customer-friendly credit card rules

Some smart tweaking of the billing cycle will give you more time to settle without having to pay any interest; set spending limits where necessary

RBI prohibits issuance of unsolicited cards by issuers, warns of penalty

It also asked card issuers and third-party agents not to resort to intimidation or harassment during recovery of dues from customers

Pandemic-related stress on unsecured loan assets over: HDFC Bank

The unsecured lending book for the bank includes credit cards and personal loans

What is a payment gateway?

Most merchants today use payment gateways to accept purchases from customers. Let us know more about this technology which is making our transactions safe and quick

Mapping India's digital transactions

UPI is set to grow bigger now, after the RBI introduced it in feature phones. Other digital transaction platforms are growing as well. Find out the changing landscape of virtual transactions

You don't know it but we're involved in each of your card swipes: Fiserv GM

In a Q&A, Rishi Chhabra, who also heads the firm's India and Sri Lanka operations, dwells on his company's swift response to RBI's six-month moratorium and data localisation rules

Why not credit cards for NBFCs? A tale of tears behind the plastic smile

Retailing has been transformed in recent years, but the central bank still hasn't allowed NBFCs to issue credit cards

RBI, NBFCs in early talks to open up credit card business in India

To breathe life into 2004 circular on shadow banks' entry into this space