Credit card transactions

This news will definitely come as a big relief to credit card companies operating in India. In November last year, RBI had come out with a directive that said that Indian Banks who issued credit cards to consumers, will need to implement…

Recently RBI made it mandatory to enter one’s pin numbers in all POS (point-of-sale) terminals at merchant partners. So those who never remembered their pin numbers had to memorize it. Do you know why? To prevent frauds… Think that it…

Reserve Bank of India is making life tough for Indian banks, especially the ones who issue credit cards to customers. According to a new notification, RBI has told banks that the bank credit card swipe machines will need to have biometric…

RBI had come up with number of policy changes earlier this year for overseas debit and credit card transactions to curb spate of online banking transaction frauds. Some of the major changes included mandatory enablement of EMV chip &…