The latest instructions, however, are not mandatory for prepaid gift cards and those used at mass transit systems, the RBI added.
The source of the breach is yet unknown but the data analysis have found Track 2 data in the card dump.
HDFC Bank, Indian Oil launch co-branded fuel credit card for users from non-metro cities; to be available on RuPay, Visa platforms
The HDFC Bank, IOC co-branded fuel card offers customers the highest rewards and benefits on fuel consumption and will be available on both RuPay and Visa platforms
Aadhaar-enabled Payment System: How to avail banking services on NPCI platforms; all you need to know
Aadhaar-enabled Payment System (AePS) has crossed the milestone of over 200 million transactions during July this year
NPCI's Aadhaar-enabled Payment System (AePS) is a bank-led model which allows basic interoperable banking transactions at PoS or MicroATM through business correspondent of any bank.
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'.
If the RBI ensures equitable distribution of MDR margins between all parties, then the acquirers will have enough resources to deploy the expensive POS terminals across all establishments in the country and thus help grow digital transactions
Samsung India announces partnership with YES BANK; will support credit cards on Samsung Pay platform
Samsung Pay will allow YES BANK credit card holders to make payments using Samsung smartphones at Point of Sale (PoS) card machines at merchant outlets.
HP has unveiled a new point-of-sale (POS) system to reinvent how technology can transform the in-store experience for customers.
Apart from the increased security vulnerability to the person's biometrics, another deterrent to the digital mode would be the increased costs of the additional hardware.
The Government today announced various measures for the electronics sector as part of Budget 2017-18 which includes "record allocation" of Rs 745 crore towards incentive schemes like M-SIPS and EDF and duty exemption on POS machines.
To promote digital payments, the upcoming budget may offer incentives to companies which manufacture equipment like PoS machines and micro ATMs.
According to sources, the government may cut or eliminate excise duty on manufacturing of micro ATMs, finger print readers, biometric cards and PIN cards.
Post demonetization, India is expected to be a key target for cybercriminals using malware to attack point-of-sales (POS) devices and mobile wallets this year, security software firm F-Secure said today.
To encourage cashless transaction, Railways will install card swipe machines at parcel booking offices and all ticket reservation counters in all major stations.
A National Encryption Policy draft was issued in late 2015. This was, however, withdrawn due to serious flaws. Since then, there has been no other announcement towards use of acceptable encryption in India.
ICICI Bank will transform 100 villages in 100 days in effort to provide digital ecosystem in rural India
The financial institution has decided to convert all of the 100 villages into 'ICICI Digital Villages' which is in line with the bank's effort to arrange digital ecosystem across the country.
Recent announcements by the government on POS (point of sale) expansion and incentivizing card payments show that it means business.
The M-POS application is presently rolled out on Android devices and is powered by the GoDB Mobility platform.
Announces the HP rp5800 Retail System- a point-of-sale solution