The rule on online payments has changed

 The rule on online payments has changed, the companies said, so people will get tired

This rule has changed with regard to online payments

Debit or credit card numbers are 16 digits and not everyone can remember them but now you need to remember them.

Changed to online payment

Changes to the rules for debit card and credit card payments

RBI announces new rules circular

According to the new rules of the Reserve Bank of India, you have no choice. Now if you have to go anywhere you have to take the card with you.

Companies cannot store card details

The RBI has issued new guidelines stating that online merchants, e-commerce websites and payment aggregators will not be allowed to store online customer card details. This rule does not allow companies to store card numbers on Amazon, Flipkart, Google Pay, Paytm, Netflix, etc.

This means that in order to make an online payment, you have to fill in all the details instead of the CVV number. According to RBI Secular, these guidelines will come into force from July 2021.

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Source :- vtv news

You would think that these new rules would bring a hurdle in the process of making the country cashless but it is more appropriate to apply these rules than to take the risk in case of fraud.

Nasscom expressed concern

IT industry Nasscom has expressed concern over the move on January 1. He argues that the experience of this type of online payment can be serious.