RBI Temporarily Suspends Mastercard and Visa Card-Based Commercial Payments

21 Feb 2024 CW Team

The suspension is a response to certain non-compliance issues observed by the RBI in the digital payment systems operated by Mastercard and Visa. The central bank's decision aims to address these concerns, ensuring the security, efficiency, and regulatory adherence of commercial transactions facilitated through these card networks.

The impact of this suspension is anticipated to be felt across various sectors, particularly in businesses that heavily rely on Mastercard and Visa for commercial transactions. The move prompts a reevaluation of digital payment strategies by businesses, highlighting the importance of diversification and the adoption of alternative payment methods.

While the suspension is temporary, it emphasises the need for robust and compliant digital payment systems that align with regulatory standards. It also underscores the central bank's commitment to maintaining the integrity of the financial ecosystem and ensuring the safety of transactions in the rapidly evolving landscape of digital finance.

Businesses and consumers alike will closely monitor developments in the wake of this suspension, with a focus on understanding the regulatory landscape and potential implications for their payment processes. The incident serves as a reminder of the evolving nature of digital finance and the necessity for constant vigilance to safeguard against potential risks.

As the RBI addresses non-compliance issues with Mastercard and Visa, the financial industry is likely to witness increased scrutiny and emphasis on adherence to regulatory frameworks. The temporary suspension prompts a broader conversation about the resilience and reliability of digital payment systems, urging stakeholders to prioritise compliance and security in the evolving landscape of financial technology.

In a significant move, the Reserve Bank of India (RBI) has implemented a temporary suspension on commercial payments made through Mastercard and Visa cards. This decision has far-reaching implications for businesses and underscores the need for a reassessment of digital payment platforms in the country. The suspension is a response to certain non-compliance issues observed by the RBI in the digital payment systems operated by Mastercard and Visa. The central bank's decision aims to address these concerns, ensuring the security, efficiency, and regulatory adherence of commercial transactions facilitated through these card networks. The impact of this suspension is anticipated to be felt across various sectors, particularly in businesses that heavily rely on Mastercard and Visa for commercial transactions. The move prompts a reevaluation of digital payment strategies by businesses, highlighting the importance of diversification and the adoption of alternative payment methods. While the suspension is temporary, it emphasises the need for robust and compliant digital payment systems that align with regulatory standards. It also underscores the central bank's commitment to maintaining the integrity of the financial ecosystem and ensuring the safety of transactions in the rapidly evolving landscape of digital finance. Businesses and consumers alike will closely monitor developments in the wake of this suspension, with a focus on understanding the regulatory landscape and potential implications for their payment processes. The incident serves as a reminder of the evolving nature of digital finance and the necessity for constant vigilance to safeguard against potential risks. As the RBI addresses non-compliance issues with Mastercard and Visa, the financial industry is likely to witness increased scrutiny and emphasis on adherence to regulatory frameworks. The temporary suspension prompts a broader conversation about the resilience and reliability of digital payment systems, urging stakeholders to prioritise compliance and security in the evolving landscape of financial technology.

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Infrastructure Transport

31 Jul 2026

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Infrastructure Transport

31 Jul 2026

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..