Articles for Storage Of Payment System Data

American Express Can Now Onboard New Customers in India; Know RBI's Data Storage Rules
2 years, 3 months ago

American Express Can Now Onboard New Customers in India; Know RBI's Data Storage Rules

News 18  

The Reserve Bank of India has lifted curbs on global card network American Express on onboarding new domestic customers, after about 15 months of restrictions. “In view of the satisfactory compliance demonstrated by American Express Banking Corp. with the Reserve Bank of India circular dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated …

India 2018 Data Bank Payment Rbi System
Fresh card issuance by five private banks to be impacted due to ban on Mastercard by RBI: Report
3 years, 5 months ago

Fresh card issuance by five private banks to be impacted due to ban on Mastercard by RBI: Report

The Hindu  

As many as five private sector banks, including Axis Bank, Yes Bank, and IndusInd Bank, are to be impacted by the Reserve Bank of India’s decision to ban Mastercard from issuing new cards for not complying with local data storage guidelines, according to a report. “Among credit card issuers including co-brand partners, RBL Bank, Yes Bank and Bajaj Finserv lending …

Data Bank Storage Visa Payment Report Card
RBI restricts Mastercard from acquiring new customers from July 22
3 years, 5 months ago

RBI restricts Mastercard from acquiring new customers from July 22

Hindustan Times  

The Reserve Bank of India on Wednesday barred Mastercard Asia Pacific from onboarding new debit, credit, or prepaid card customers from July 22, 2021, for failing to comply with its data storage norms. The central bank said that Mastercard failed to comply with the “directions on Storage of Payment System Data” even after being given “considerable time and adequate opportunities.” …

Data Bank Payment Card Rbi System Mastercard
RBI Bars Mastercard from Acquiring New Customers in India from July 22
3 years, 5 months ago

RBI Bars Mastercard from Acquiring New Customers in India from July 22

News 18  

The Reserve Bank on Wednesday barred Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22 as it failed to comply with data storage norms. Taking action against Mastercard, RBI said, "notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on …

India Bank Payment Rbi System Data Storage Storage Of Payment System Data