Finance

New Card Rules in your world: Good or Bad?

Now there are new rules in the market regarding your Debit and Credit cards. You need to know how are the going to effect your financial life.

How the new card rules will affect you- is the question of the day which invites your attention as a must.

The RBI has rolled out new rules regarding the usage of users’ debit and credit card which were made mandatory to follow. And the reason behind this update is the safety and security of the users’ money.

Just four more days to go, from October 01, 2022 the rules for online payments for debit and credit cards will be different. RBI has introduced now a token system attached with your cards. Henceforth, from the first day of the next month it will be compulsory for all users where the credit and debit card data used in online, point-of-sale, and in-app transactions will be replaced with tokens.

Earlier, the deadline for this new transaction style was July which then was extended by three months to October. This is the tokenization of the transaction – beginning of a new era in the Indian banking.

Now what is going to happen after tokenization transpires? The answer is this will safeguard your card more with the added layer of security for debit, credit card holders’ money. This will also enhance users’ digital payment experience.

 

Bharat Express English

Recent Posts

Sensex Falls 931 Points As Trump’s Tariff Move Triggers Global Selloff

The Sensex dropped 930.67 points, or 1.22 per cent, to settle at 75,364.69. It moved…

48 mins ago

Supreme Court To Hear Muslim Side’s Plea In Mathura Dispute On April 8

The SC will hear the Muslim side’s petition in the Mathura Krishna Janmabhoomi dispute on…

1 hour ago

DNA Can’t Confirm Rape Without Proof Of Lack Of Consent: Delhi High Court

Justice Amit Mahajan said that even if DNA proves the accused is the biological father…

2 hours ago

Supreme Court Allows Yasin Malik To Cross-Examine Witnesses Via Video From Tihar Jail

The SC allowed Yasin Malik to cross-examine prosecution witnesses via video conferencing from Tihar jail,…

2 hours ago

Delhi HC Orders Customs To Stop Seizing Personal Jewellery Of Air Passengers

The Delhi HC directed Customs Department officials not to confiscate old or personal jewellery worn…

2 hours ago

PM Modi Unveils 21-Point Action Plan To Boost BIMSTEC Cooperation At Bangkok Summit

Prime Minister Narendra Modi on Friday unveiled a 21-point action plan at the BIMSTEC Summit…

3 hours ago