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Debit Card Payment

Draft framework: RBI for more options to authenticate digital payments

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

Draft framework: RBI for more options to authenticate digital payments
Updated On : 31 Jul 2024 | 11:15 PM IST

Visa appoints Sujai Raina as India head; to oversee strategic initiatives

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, ..

Visa appoints Sujai Raina as India head; to oversee strategic initiatives
Updated On : 07 May 2024 | 12:40 PM IST

Reserve Bank of India restrains commercial card payments by a network

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

Reserve Bank of India restrains commercial card payments by a network
Updated On : 15 Feb 2024 | 11:28 PM IST

RBI orders Visa to stop unauthorised B2B card payment system: Report

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

RBI orders Visa to stop unauthorised B2B card payment system: Report
Updated On : 15 Feb 2024 | 8:24 PM IST

Card payments in India to hit Rs 27.9 trillion mark in 2023: GlobalData

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.

Card payments in India to hit Rs 27.9 trillion mark in 2023: GlobalData
Updated On : 22 Aug 2023 | 11:41 PM IST

Expanding banking points, product lines, debit cards in rural areas: Airtel

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

Expanding banking points, product lines, debit cards in rural areas: Airtel
Updated On : 09 Jul 2023 | 1:34 PM IST

Phonepe launches point-of-sale systems so vendors can accept card payments

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

Phonepe launches point-of-sale systems so vendors can accept card payments
Updated On : 06 Jul 2023 | 5:23 PM IST

Amazon Prime Day 2023 starts on July 15: Check offers on TV, phones, others

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

Amazon Prime Day 2023 starts on July 15: Check offers on TV, phones, others
Updated On : 28 Jun 2023 | 2:54 PM IST

Industry prepared for potential disruptions as tokenisation nears

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

Industry prepared for potential disruptions as tokenisation nears
Updated On : 29 Sep 2022 | 10:47 PM IST

Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know

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

Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know
Updated On : 18 Sep 2022 | 1:46 PM IST

Credit cards gain more currency pipping debit cards for e-commerce

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

Credit cards gain more currency pipping debit cards for e-commerce
Updated On : 30 Aug 2022 | 11:43 PM IST

MPAI, ADIF write to RBI for an extension of tokenisation deadline

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

MPAI, ADIF write to RBI for an extension of tokenisation deadline
Updated On : 22 Dec 2021 | 12:06 PM IST

Covid-19 caused permanent shift to digital payments, says Visa CEO

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

Covid-19 caused permanent shift to digital payments, says Visa CEO
Updated On : 02 Dec 2021 | 1:50 AM IST

New recurring payment norms: 20 days later, people still face disruptions

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

New recurring payment norms: 20 days later, people still face disruptions
Updated On : 21 Oct 2021 | 5:12 PM IST

Prevent auto-debit failures by registering once again, say experts

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

Prevent auto-debit failures by registering once again, say experts
Updated On : 30 Sep 2021 | 10:27 PM IST

Customers in limbo as banks, payments firms, RBI seek to settle 2 issues

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

Customers in limbo as banks, payments firms, RBI seek to settle 2 issues
Updated On : 23 Aug 2021 | 9:17 AM IST

Second wave impact: Auto debit payment bounce rate increases further in May

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

Second wave impact: Auto debit payment bounce rate increases further in May
Updated On : 09 Jun 2021 | 12:47 AM IST

Pine Labs launches AllTap app to turn phone into payment acceptance device

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

Pine Labs launches AllTap app to turn phone into payment acceptance device
Updated On : 28 Jan 2021 | 2:14 AM IST

The zero MDR has affected the PoS business: Worldline's Deepak Chandnani

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

The zero MDR has affected the PoS business: Worldline's Deepak Chandnani
Updated On : 18 Jan 2021 | 6:10 AM IST

India's a digital payments hotspot

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

India's a digital payments hotspot
Updated On : 22 Nov 2020 | 10:21 PM IST