Page 2 - Payment System Data News Today

RBI had imposed the restrictions on American Express in April last year for non-compliance with directions on storage of payment system data

The Reserve Bank of India on Wednesday lifted curbs imposed on American Express last year that had prevented it from taking on new customers in India, saying the U.S.

The Reserve Bank on Wednesday lifted the restrictions on American Express Banking Corp and allowed onboarding of new domestic customers on its card network.

The restrictions on American Express were imposed for non-compliance with the RBI circular -- dated April 6, 2018 -- on storage of payment system data.

After the Reserve Bank of India (RBI) lifted curbs on American Express Banking Corp enabling it to onboard new domestic customers, the financial services compan

The Reserve Bank of India (RBI) has lifted the restrictions imposed on Mastercard Asia Pacific Pte Ltd on on-boarding of new domestic customers with immediate effect.

The RBI on June 16, 2022 lifted restrictions on Mastercard that it had imposed last year for failing to comply with local data storage norms. The central bank had barred the US-based payment gateway from onboarding new customers until it complies with Storage of Payment System Data norms.“In view of the satisfactory compliance demonstrated by…

The restrictions were imposed on Mastercard from issuing new credit, debit and prepaid cards came into effect from July 22 for its failure to comply with data storage norms.

In July last year, the RBI had barred Mastercard from issuing new debit and credit cards to domestic customers

The Reserve Bank of India (RBI) on Thursday announced that it has lifted business restrictions imposed on Mastercard Inc with immediate effect.