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Post demonetisation Paytm hitting more than five million transactions in one week

Post demonetisation Paytm hitting more than five million transactions in one week

Witnessing an exponential growth in terms of day-to-day transactions after demonetisation, Paytm is touching more than five million transactions in one week as compared to the combined average daily number of payment transactions seen by debit and credit cards in India.

Demonetisation: Govt removes excise duty on POS machines

Government on Monday removed excise duty on goods for manufacturing of POS (Point of Sale) machines that are in great demand as merchants are being compelled to use them in the wake of currency crisis.

MobiKwik announces MobiKwik Card to replace debit, credit cards

Mobile wallet major, MobiKwik, today announced that its users will be able to use MobiKwik for payments across all online and offline retailers and shops, where credit and debit cards are accepted by January 2017.

Yes Bank enters credit card space, eyes No 3 slot in 4 years

Yes Bank enters credit card space, eyes No 3 slot in 4 years

Setting an ambitious target of having five million customers by 2020 and to become the No 3 player in the extremely competitive industry, mid-sized lender Yes Bank Tuesday made a foray into the credit card market.

Govt to bear transaction cost of payments received via cards

In order to promote less cash economy, the government has said it will bear the transaction cost for all payments made to it through debit or credit cards and net banking.

 

SBI Card to have more co-branding with other banks

SBI Card, a subsidiary of State Bank of India, would go for co-branding of credit cards with more other banks which do not have big back-office support, an official said.

Axis Bank says 60% of its new credit cards sold in non-metros

Axis Bank says 60% of its new credit cards sold in non-metros

 The third largest private sector lender Axis Bank has said smaller centres are outpacing the top eight cities in its credit cards business, fuelled largely by the e-commerce boom.

RBI asks banks to upgrade ATMs to prevent cloning of cards

RBI asks banks to upgrade ATMs to prevent cloning of cards

RBI Thursday asked banks to upgrade all ATMs by September 2017 with additional safety measures to prevent skimming and cloning of debit and credit cards.

Good news! Foreigners, NRIs can now book train tickets in India using debit, credit cards

Good news! Foreigners, NRIs can now book train tickets in India using debit, credit cards

Here’s is a good news for foreigners and NRIs. Now, they will be able to book train tickets in India online by using international debit and credit cards through IRCTC website.

Don't not throw away expired credit, debit cards

A Byculla conman has been arrested by Dadar police station for using fresh user data, siphoning off lakhs from unsuspecting victims.

Russian man pleads guilty in US over record cyber heist

A Russian man pleaded guilty on Tuesday to involvement in what authorities called the largest computer hacking scheme ever prosecuted in the United States, compromising more than 160 million credit card numbers and causing more than USD 300 million of losses.

EU says MasterCard overcharges customers, retailers

The EU said Thursday that US credit- card giant MasterCard overcharged customers and retailers, having already found rival Visa at fault over fees levied on card payments.

Visa joins MasterCard, AmEx in ending use for Backpage sex ads

Visa Inc said on Wednesday it is joining MasterCard Inc and American Express Co in barring its credit cards from being used to pay for ads on Backpage.com following a request from a Chicago sheriff who said the site is used by sex traffickers.

Use credit or debit card? Here are the benefits govt has planned for you

The government has proposed income tax benefits for people making payments through credit or debit cards. This move also aims to boost digital payement and encouraging non-cash transactions.

Need to move towards plastic currency: FM Jaitley

Finance Minister Arun Jaitley on Tuesday made a case for greater use of plastic currency even as he stressed that development of new facilities at Hoshangabad and Mysore would help in reducing reliance on imports for printing of currency notes.

Federal Bank, SBI Card collaborate to launch credit cards

Private sector Federal Bank along with card issuing company SBI Card Monday launched co-branded credit cards.

Rs 4,733 cr collected in taxes via Non-filer Monitoring System

Government has collected Rs 4733.61 crore in taxes since 2013 through Non-filer Monitoring System that tracks large value financial transactions, including via credit cards.

RBI to banks: Only chip, PIN based debit/credit cards from September

The Reserve Bank on Thursday asked banks to issue only chip-based and PIN enabled debit and credit cards from September, a move aimed at protecting customers from frauds.

India's banks turn to consumer loans to counter corporate slowdown

Meanwhile, retail borrowers have escaped largely unscathed, with income levels still growing, albeit at a slower pace, and no large-scale job losses.

Four Indians held on credit card fraud charges in Bahrain

Four Indians have been arrested in Bahrain for allegedly using forged credit cards to buy 45 smartphones worth more than Rs 28 lakhs.