[ad_1] Visa Inc and Mastercard Inc agreed to cap credit-card swipe fees — a deal that US merchants say will save them at least $30 billion over five years — in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.The deal, which is subject to court approval,…
[ad_1] RBI’s scrutiny on credit cards: The Reserve Bank of India (RBI) has intensified its scrutiny on co-branded credit cards, a sector that has witnessed significant growth recently. This aims to prevent unauthorised entry into the tightly regulated credit card industry, informed sources told ET.They mentioned that the central bank aims to tighten regulations on…
[ad_1] MUMBAI: India is among the safest countries in the world when it comes to online transactions, due to RBI‘s decision to tokenise every transaction, according to Mastercard.“India is the only country that tokenises every online transaction, reducing fraud and disputes. However, social engineering frauds – where customers are tricked into payments or sharing credentials…
[ad_1] In a surprising move, the Reserve Bank of India (RBI) has directed card networks such as Visa and Mastercard to halt card-based commercial payments made by corporations and small enterprises. Transactions carried out at possible unauthorized business outlets accepting card payments have been temporarily suspended, according to industry sources. While the exact reason behind…
[ad_1] Visa and Mastercard have asked the US Supreme Court to overturn a judge’s order allowing consumers and a group of ATM operators to band together in class actions seeking billions of dollars in damages over transaction fees. The two payment card giants in a filing at the high court argued that a Washington, D.C.,…
