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Without naming, RBI restrains commercial card payments by one network

Reserve Bank of India (RBI) has issued order restraining payments by companies through intermediaries to non-card accepting recipients for violation of section 4 of Payment and Settlement Systems (PSS) Act ....

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Card-based business payments: Card-based business payments violated Payment and Settlement Systems Act, 2007: RBI

On February 14, ET wrote that fintech startups like EnKash, Paymate and others have been instructed by card network Visa to stop offering business payment services through their commercial cards. The central bank mentioned that only one card network offers this service currently, without naming them. ....

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