The RBI found from a review that some arrangements between card networks and card issuers are "not conducive to the availability of choice for customers".
March 8, 2024Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.
February 19, 2024The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.
December 19, 2023Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India's data storage rules.
June 21, 2022Restrictions prohibiting Diners Club from onboarding new domestic customers have been lifted. Similar restrictions are still in place for Amex and Mastercard.
November 14, 2021Visa is the only foreign card network that complies with requirements for financial data on Indian customers to be stored locally, the RBI says.
August 19, 2021Visa is alleged to have engaged in anti-competitive practices by preventing merchants from routing payments through other card networks.
March 25, 2021