M10 Networks teams with NIFT on B2B digital payments in Pakistan
M10 Networks teams with NIFT on B2B digital payments in Pakistan
Source: thepaypers.com
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RBI imposes monetary penalty on two payment system operators
As this was an offence of the nature referred to in Section 26 (2) of the PSS Act, a notice was issued to PPBL
Source: deccanchronicle.com
mastercard ban: 'Mastercard's dual record maintenance led to RBI ban'
Synopsis Mastercard is said to have failed to erase the Indian leg of the transaction data from overseas servers within 24 hours as mandated by the Reserve Bank of India (RBI). ETtech The Reserve Bank of India (RBI) has barred Mastercard from issuing new cards as the company failed to comply with the central bank’s data localisation policy. Mumbai: The Reserve Bank of IndiabarredMastercard Inc. from issuing new cards in India after it found the US-based payments major was storing customers’ data on servers located outside the country and also failing to erase from overseas servers the Ind...
Source: indiatimes.com
RBI bars Mastercard from onboarding new customers in India
RBI bars Mastercard from onboarding new customers in India SECTIONS Last Updated: Jul 15, 2021, 06:23 AM IST Share Synopsis The central bank’s supervisory action on Mastercard is citing its non-compliance with data localisation mandate wherein all foreign payment operators storing card and customer related data must do so in servers physically present in India. Agencies RBI had issued its data storage circular in April of 2018 and given all system providers a time frame of six months to enforce these norms. The central bank said that Mastercard’s existing customers won’t be impacted bec...
Source: indiatimes.com
Business: In Ethiopia ArifPay Raises $3.5m, Taxi-hailing Company 'Feres' Launches E-commerce Service Called 'Feresegna' at Tadias Magazine
March 12th, 2021 in Business. Closed ArifPay is a mobile point of sale system which will allow ATM cardholders to make electronic transactions via their smartphones. (Shega Media) Shega ArifPay Closes A $3.5 M Private Placement Round From 31 Investors ArifPay ( ArifPay Financial Technologies Share Company ), an upcoming fintech company in Ethiopia, raised $3.5M / 140M ETB from 31 investors in a private placement round. From the total raised capital, the paid capital is $1M while the rest $2.5M is a subscribed capital. Investors are expected to pay the subscribed capital i...
Source: tadias.com