E-commerce sites are no longer to store card data: RBI
RBI's ban on the storage of card details will lead towards the less and will put down the hijack by malware
New Delhi: The e-commerce websites are now no longer to store the card data of their customers on their sites, as seeing the more ransomware attacks the Reserve Bank of India has come up with this tough decision.
RBI's ban on the storage of card details will lead towards the less fraud cases and will put down the hijack by malware. According to the new guidelines, the online merchants will not be able to store the customer's credit card details, there will be the manual procedure of typing 16 digits a full number of the card.
"The central bank has said that it will not allow any online merchant to store debit or credit card information, no matter how secure their systems are. Online businesses are already working to meet RBI’s deadline on recurring payments, which kicks in from September 2021.
These guidelines require that customers issue mandates for recurring payments to banks, and online firms cannot on their own debit charges, according to the sources."
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