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Eating out at a 5-star hotel? You may soon be forced to pay by card only
Business

Eating out at a 5-star hotel? You may soon be forced to pay by card only

With the Finance Minister Arun Jaitley attempting to discourage cash transactions, you may soon have to pay by card if you have incurred bill of over Rs 5,000 while eating out at a four or five star hotel.

Why Uber, Google Play and Amazon should not lose sleep over RBI's latest diktat
Biztech

Why Uber, Google Play and Amazon should not lose sleep over RBI's latest diktat

Given the wide coverage of this rule, it can therefore be construed that the services rendered by Uber, Google play and Apple App store cannot be said to be provided in India. Similarly, sale of digital content by Amazon.com will also not be considered to be a sale between two residents in India. The use of a foreign payment gateway for the use of such services should therefore not be a problem.<br />

Shutting down Uber would be a terrible idea. RBI should aid innovation instead
Money

Shutting down Uber would be a terrible idea. RBI should aid innovation instead

When you finish a taxi ride, between two to ten minutes are wasted in dealing with the payment. You could pay cash, he might fumble on change, you could swipe a credit card, after an interminable delay the device does not work, and so on.<br />

US: Indian pleads guilty in $200 mn credit card fraud scheme
World

US: Indian pleads guilty in $200 mn credit card fraud scheme

An Indian businessman, involved in $200 million credit card fraud schemes, has pleaded guilty to his role in the conspiracy and now faces a penalty of 15 years in prison.

11 changes your money went through in 2013
Investing

11 changes your money went through in 2013

With a number of regulatory changes as well as some innovation in financial instruments, there were perhaps too many things to keep track off.

JPMorgan warns 465,000 card users on data loss after cyber attack
Business

JPMorgan warns 465,000 card users on data loss after cyber attack

Cyber criminals covet such data because it can be used to open bank accounts, obtain credit cards and engage in identity theft. Many states require banks to notify customers if they believe there is any chance that such information may have been taken in a breach.<br /><br />

Credit history: Why you can run but not hide
Investing

Credit history: Why you can run but not hide

Increasingly banks are using skip-tracking tools to trace those people who skip payments.

Will chip-based credit cards really work?
Investing

Will chip-based credit cards really work?

What makes this card more secure is that your card and personal data will be stored in an encrypted format on the chip which looks like a SIM card in front of the card and not on the magnetic strip on the reverse of the card.

Consumerism at its peak: Average credit card spend jumps 42%
Investing

Consumerism at its peak: Average credit card spend jumps 42%

Thanks to the zero-interest EMI option not only have the number of credit card defaulters fallen, but consumerism is at its peak too with the average credit card spend per month jumping 42 percent in the last two years.<br /><br />

How many insurance policies do you really need?
Investing

How many insurance policies do you really need?

Most people buy insurance policies to avail tax benefits and when it is time to file investment proof, they blindly buy multiple policies.

Forget RBI, even corporate India is making gold purchases tougher
Investing

Forget RBI, even corporate India is making gold purchases tougher

Financial service companies are taking several steps to help curb gold imports.

All you need to know about Amex's new card for middle income group
Investing

All you need to know about Amex's new card for middle income group

Unlike many other American Express cards, this card comes with an expiry date for reward points redemption, which is three years

Mumbai police accounts hacked: 10 tips to prevent credit card frauds
News & Analysis

Mumbai police accounts hacked: 10 tips to prevent credit card frauds

Avoid using credit cards online, instead use virtual credit cards.

Mumbai police accounts hacked: 10 tips to prevent credit card frauds
Investing

Mumbai police accounts hacked: 10 tips to prevent credit card frauds

Avoid using credit cards online, instead use virtual credit cards.

Goof up: HDFC bank deducts Rs 1.4 lakh for a card that was never delivered
Business

Goof up: HDFC bank deducts Rs 1.4 lakh for a card that was never delivered

HDFC Bank was directed by a consumer forum in New Delhi on Tuesday to pay Rs 50,000 as compensation to one of it's account holder.

Indian card processor in $45 mn heist is ElectraCard
News & Analysis

Indian card processor in $45 mn heist is ElectraCard

One of the credit card processing companies whose security was breached in a $45 million global cyber heist ...

Move to Chip- based cards to prevent credit card frauds
Investing

Move to Chip- based cards to prevent credit card frauds

If you are looking for a new credit card or simply want to make your current credit card more secure, choose the chip-based card. Here's why

How to roll back your credit card late payment fee
Investing

How to roll back your credit card late payment fee

How to roll back: Late payment fees come into the picture when you are late to make the payment.