Tag: Mastercard

Visa halts intermediated commercial card payments in India after RBI’s directive

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Visa did not say why the Reserve Bank of India has issued the directive.  | Photo Credit: Reuters Visa said on February 14 that the Reserve Bank of India (RBI), which is also the country’s financial market regulator, had directed it last week to halt all domestic transactions for Business Payment Solution Providers (BPSPs). BPSPs…

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Explained | RBI’s proposal for interoperability of credit and debit cards

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Image for representation only The story so far: On July 5, apex banking regulator Reserve Bank of India (RBI) floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. It also proposes to restrain issuers from entering into exclusive agreements with card…

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