The CBDC Retail (CBDC-R) pilot currently allows for Person to Person (P2P) and Person to Merchant (P2M) transactions using Digital Rupee wallets provided by selected banks. Now, the RBI plans to expand its use cases by introducing programmability, which will allow government agencies to ensure payments are made for specific benefits, while letting companies allocate funds for expenses such as business travel.
The Reserve Bank of India (RBI) has introduced the e-Rupee, also known as the Central Bank Digital Currency (CBDC), to revolutionize the way financial transactions are conducted in the digital era. In 2022, the RBI had initiated a pilot project for the digital rupee in both the wholesale and retail markets with the aim of…
The Reserve Bank of India(RBI) has introduced the e-Rupee, also known as the Central Bank Digital Currency (CBDC), to revolutionize the way financial transactions are conducted in the digital era. In 2022, the RBI had initiated a pilot project for the digital rupee in both the wholesale and retail markets with the aim of promoting…
The Federal Trade Commission singled out Mastercard in its recent proposed consent order, but other implicated card networks and issuers are unlikely to escape censure.
Tokenisation means the details of your cards such as 16-digit number, names, expiry dates and codes which you used to save earlier for the future payments will now be replaced by a token. The token is used by the merchant`s website for the transaction.