The Reserve Bank of India (RBI) has tightened the norms for NPA classification of credit card accounts. Until now, you had 120 days’ time to pay your credit card bills before being classified as a non-performing asset (NPA). But now things are set to change. If you don’t pay your minimum credit card dues within […]
MasterCard, the global payments and technology company, is researching on a smartphone app that will allow people to authenticate a transaction and confirm their identity via biometric. This app aims to enhance online security and make transactions safer. The app will offer consumers with both finger print and facial scan options. On buying a product, […]
On 24th June, India’s third largest private sector bank launched EMV chip-based debit card Secure+ with enhanced security features to make cashless transactions even more secure. Secure+ comes at an annual cost of Rs 300 and offers such protective features as: Emergency assistance in case of loss of ticket and wallet; also covers […]
How you use a credit card greatly influences your financial present and future. Credit cards can either support you economically or drain you financially. This journey begins right at the time you start looking for a credit card. So when you make this first crucial step, ensure that it’s a step in the right direction. […]
State-run lender Bank of India has tied up with MasterCard to launch three new cards — Platinum Credit MasterCard, International Travel MasterCard and Business Debit MasterCard — to enrich customers’ payment experience. The bank will also offer two new banking solutions — In Control for Spend Management and MasterCard Rewards Program — to its card […]
As our dependency on credit cards has increased, so have the frauds. If you go by the newspapers, in Hyderabad alone, over 200 people have first-hand experienced credit card fraud in the first four months of 2015. And, Hyderabad is just one example. Such frauds are not restricted to one city alone but are fast […]
For the first time since Feb 2010, the credit card base of the country has gone beyond the pre-crisis level, crossing the 20-million mark. As per the data from the Reserve Bank of India (RBI), credit cards reached 20.29 million at the end of December 2014. According to bankers, boom in the e-commerce industry and […]
In a major boost to promote the use of contactless card transactions, India’s apex bank — The Reserve Bank of India — has decided to waive off the second level of authentication on card transactions. This move will enable customers to carry out transactions up to Rs. 2000 without PIN authentication by using the fast-emerging […]
State Bank of India (SBI), India’s largest bank and cards issuer has launched contactless debit and credit card on Thursday. The contactless card named sbi INTOUCH comes with a latest near-field technology (NFC) enabling users to make payments by waving or tapping the card near the contactless reader instead of swiping or dipping it. Speaking […]
To promote card-based transactions, IDBI Bank has tied up with National Payment Corporation of India (NPCI) to launch Rupay Platinum Debit Card. According to the bank, the card is in line with the Reserve Bank of India’s vision. The card offers open-loop, multilateral payment system to all banks and financial institutions in India. On registering for […]
