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Under the new norms, millions of card holders – both debit and credit – making payments online in 2022 may have to enter their 16-digit card numbers every time they make a payment online as opposed to just authenticating these transactions through the CVV (card verification value) and the one-time password (OTP) as is the current norm.
New norms will prohibit merchants from storing card details and payment operators from offering one-click checkout service.
New Delhi [India], August 11 (ANI/News Voir): Paying for a hotel room with a credit card, getting a new TV on a debit card, or paying for vegetables on the street via a mobile wallet: digital payments are omnipresent in the everyday life of Indians and have dramatically changed consumer behaviour in the country.
Paying for a hotel room with a credit card, getting a new TV on a debit card, or paying for vegetables on the street via a mobile wallet
Daily Times July 14, 2021 The start of year 2021 has witnessed a much awaited rebound by various global economies but the pandemic has certainly left its mark by revolutionizing the trajectory of economic growth. The World Bank has downgraded the short and medium-term outlook for the World Economy for the year 2021. The COVID-19 Pandemic has geared up and intensified the significance of digital banking across the globe. The world is rapidly shifting towards digitalization with a growing number of countries developing instant payment systems to dynamically and virtually connect their diverse e...