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UPI rides out the first wave of expansion
Business Standard
|July 22, 2022
Payment failures rose only marginally after RBI implemented its mandate on recurring payments, suggesting that the system should be able to handle the transition to tokenisation too
Last month, the Reserve Bank of India (RBI) extended the deadline for card tokenisation by another three months to September 30. The central bank decided against the July 1 deadline as the implementation was mired in problems, and not all payment players were ready with tokenisation. All companies would have to purge stored card information once tokenisation is implemented.
Tokenisation would be the second big shake-up from the central bank in two years. Last year, the RBI asked banks to cancel all recurring mandates and issued new guidelines for recurring mandates, disrupting the payment landscape.
Denne historien er fra July 22, 2022-utgaven av Business Standard.
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FLERE HISTORIER FRA Business Standard
Business Standard
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