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The two payment system providers have been penalised for violating data storage norms The Reserve Bank of India has restricted American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1 for violating data storage norms. The order will not impact the existing customers of these two entities, the central bank said in a statement on Friday. American Express Banking Corp and Diners Club International Ltd are Payment System Operators authorised to operate card networks in the country under the Payment and Settlemen...

URL copied Image Source : FILE PHOTO Reserve Bank of India (RBI) restricts American Express Banking Corp and Diners Club from on-boarding new customers from May 1. The Reserve Bank of India (RBI) restricted American Express Banking Corp and Diners Club from on-boarding new customers from May 1, PTI reported. RBI in its order dated April 23, 2021, imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from on-boarding new domestic customers onto their card networks from May 1, 2021. These entities have been found non-comp...

Amex, Diners Club barred from adding new customers Premium FILE - Data to be stored exclusively in India include complete end-to-end transaction details; information collected, carried and processed as part of the message or payment instruction (AP) Share Via Read Full Story Mumbai: The Reserve Bank of India (RBI) on Friday asked global card payment networks American Express Banking Corp. and Diners Club International Ltd not to on-board new customers due to non-compliance of localized payment data storage norms. “This order will not impact existing customers," the regulator said. American...

Updated: Share Article AAA The Reserve Bank of India has imposed restrictions on American Express Banking Corp. and Diners Club International Ltd. from onboarding new domestic customers onto their card networks from May 1. “These entities have been found non-compliant with the directions on storage of payment system data. This order will not impact existing customers,” the Reserve Bank said on Friday. American Express Banking Corp. and Diners Club International Ltd. are payment system operators authorised to operate card networks in the country under the Payment and Settlement Systems Act...