Debit Card

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Debit Card - Total results - 69
RBI's new rules for debit and credit cards; move aimed at improving convenience, security of transactions
Business

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
Business

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
Business

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
Business

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
News & Analysis

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
Business

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
News & Analysis

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
Business

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
Business

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
News & Analysis

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.

Govt proposes easing local data storage rules for foreign payment firms after intense lobbying by US firms
Business

Govt proposes easing local data storage rules for foreign payment firms after intense lobbying by US firms

Easing the proposal would be a relief for firms including MasterCard, Visa, and American Express, which fear the country's data onshoring move could cost them millions of dollars and set a precedent for other major governments to implement similar rules at a time when there is heightened scrutiny of how companies globally handle their customers’ data.

Digitisation push: No charges on debit card payments up to Rs 2,000, MDR to be borne by govt for 2 years
Business

Digitisation push: No charges on debit card payments up to Rs 2,000, MDR to be borne by govt for 2 years

Union Cabinet approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM, UPI or Aadhaar-enabled payment systems to promote digital transactions.

Samsung will soon expand its mobile payments services to support affordable devices in India
News & Analysis

Samsung will soon expand its mobile payments services to support affordable devices in India

The J7 Pro is equipped with Samsung Pay, while J7 Max comes loaded with Samsung Pay Mini.

ATM frauds will continue, but here are a few steps card holders can follow to safeguard their money
Business

ATM frauds will continue, but here are a few steps card holders can follow to safeguard their money

Card skimming remains, by far, the most frequent form of ATM attack and currently represents nearly 95 percent of all losses.

Paytm Payments Bank starts operations: Check out what's on offer for the customers here
Business

Paytm Payments Bank starts operations: Check out what's on offer for the customers here

The customer will have to spend Rs 100 for a 10-leaf cheque book, i.e. Rs 10 per leaf

Digital financial fraud is here to stay; it’s important to be aware of the dangers to stay protected
News & Analysis

Digital financial fraud is here to stay; it’s important to be aware of the dangers to stay protected

The landscape of financial transactions has undergone a sea change over the last couple of years and digital fraud is adapting as well.

Here's how HDFC, ICICI, Axis banks & others can reward customers for ending free cash withdrawals
Business

Here's how HDFC, ICICI, Axis banks & others can reward customers for ending free cash withdrawals

Banks which have in a manner of cartelisation ushered in the bank cash transaction charges regime should similarly enlist enthusiastic customer support for the digital payments regime

Petrol pumps defer decision to not accept card payments till 13 January
India

Petrol pumps defer decision to not accept card payments till 13 January

Petrol pump owners deferred till January 13 their decision to not accept credit and debit card payments for fuel sales after banks put off the move to levy the transaction (MDR) charge.