RBL, YES exploring alternatives for credit, debit cards : vi

RBL, YES exploring alternatives for credit, debit cards


RBL, YES exploring alternatives for credit, debit cards
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While RBL Bank signed up with Visa as recently as last week, a Yes Bank spokesperson said the bank is evaluating migrating to other platforms. Both banks said they expect no disruption to their existing customers due to the RBI action.
Agencies
In a note Nomura Securities said besides Yes and RBL, HDFC Bank with 60% of its card schemes tied to Mastercard, Amex and Diners is the most impacted, while for Axis and ICICI the proportion could be about 35-36%.
The Reserve Bank of India (RBI) ban on payments giant Mastercard to onboard new customers has forced banks to mitigate their risk by tying up with Visa and home-grown Rupay.

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