RBI lifts ban imposed on Diners Club International from onboarding new customers, prompting Mastercard and American Express to be hopeful of getting similar clearance from regulator soon.
RBI imposes Rs 1 cr fine on Paytm Payments Bank; Western Union Financial Services is fined Rs 27.8 lakh for violating prescribed limit of remittances per year.
HDFC Bank and Paytm will provide digital solutions by combining their strengths in the banking, lending and digital payments space.
e-RUPI is positioned as a leak proof payment system primarily for government’s welfare schemes and is expected to boost digital currency in India.
Amazon Pay ICICI Bank credit card on-boards one mn customers in last nine months; becomes fastest co-branded credit card to cross 2 mn in India.
Axis Bank’s credit card issuances will see a 17-18% hit following RBI’s ban on Mastercard; impact to be felt in the Flipkart co-branded credit card.
Axis Bank’s credit card issuances will see a 17-18% hit following RBI’s ban on Mastercard; impact to be felt in the Flipkart co-branded credit card.
Paytm Payments Bank's customers can now make instant payments via its payment gateway using balances available in their fixed deposit account held with IndusInd Bank.
Amazon Pay ICICI Bank credit card on-boards one mn customers in last nine months; becomes fastest co-branded credit card to cross 2 mn in India.
HDFC Bank, which has been under RBI lens for network outages, had its mobile banking app down for an hour.
Transfer of funds through RTGS will be made available round-the-clock in next few days. Limit for contactless card payments to be hiked from Rs 2,000 to Rs 5,000 with effect from 1 Jan.
The card comes with a dual interface feature which will enable customers to perform both contact and contactless transactions in the domestic market and seamless contact transactions overseas.
For 5 years, the volume of digital payments grows at CAGR of 55.1% from 5.93 bn transactions to 34.35 bn in the year to March 2020.
