Debit Card

RBI's new rules for debit and credit cards; move aimed at improving convenience, security of transactions

RBI has directed banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of the card. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their card, the RBI said.

RBI issues new guidelines for credit, debit cards; move aims to prevent digital transaction frauds

The latest instructions, however, are not mandatory for prepaid gift cards and those used at mass transit systems, the RBI added.

Old SBI debit cards will be blocked from 1 January; here is how to replace them with EMV chip, PIN-based cards

If the SBI customers are yet to receive the new EMV chip cards, they can approach their respective home branch for changing the card free of cost immediately, the bank said.

RBI asks Indian banks to probe alleged data leak of 1.3 million debit and credit cards

The Reserve Bank of India (RBI) has asked banks to ensure customers’ debit and credit card data is secure and investigate reports that say data of 1.3 million accounts was available online, a notice seen by Reuters showed

1.3 million debit and credit card data of Indian users reportedly being sold on the dark web

The source of the breach is yet unknown but the data analysis have found Track 2 data in the card dump.

ATM users not to be penalised for failed transactions; no charges to be levied on balance enquiry

Banks provide a certain number of free transactions at ATMs to their customers and beyond that impose charges

UK bank has started testing debit cards with built-in fingerprint sensors

It will let users make contactless payments without needing to input a pin or offer a signature.

Tokenisation of card payments can simplify and secure financial transactions, services for merchants, consumers

Tokenisation is a process aimed at increasing the security and safety of payment systems by replacing the card details with a unique alternate payment ID or code termed as a ‘token'.

SBI halves daily ATM withdrawal to Rs 20,000: The bank has done the right thing; the move will discourage use of cash

Banks in India must dismantle ATMs and simultaneously install more and more swiping machines for their trade customers. It will be a win-win for both.

Airtel to enable customers to withdraw cash from ATM's without debit,credit cards

Airtel Payments Bank has tied up with a cloud-based payment solution provider, Empays, for the service.