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On Wednesday it was reported that RBI had directed global payment giants Visa and Mastercard to suspend card-based commercial transactions by both small and large businesses due to mounting apprehensions over Know Your Customer (KYC) compliance.

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,Visa ,Mastercard ,Reserve Bank ,Settlement Systems Act ,Know Your Customer ,Settlement Systems ,Payment Aggregator ,Rbi ,Lisa ,Card Based B2b Payments ,Ard Based Business To Payments ,Payment And Settlement Systems Act ,

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