Many players that Business Standard spoke to said they will pause credit card payment for banks that have not gone live.
Some of the fintechs that will get impacted include Cred, Paytm, Phonepe and Amazon Pay, among others.
"In line with RBI guidelines, we will facilitate credit card bill payments only for banks that are part of the Bharat Bill Payment System (BBPS) starting from July 1st, underscoring our commitment to adhering to regulatory guidelines and providing compliant payment solutions to our users," a Paytm spokesperson said.
This story is from the July 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DPIIT close to finalising model to launch PPI
Producer price index may eventually replace WPI
NSE wants Sebi to take fresh view on IPO
Files reply to HC on plea seeking expediting of much-delayed listing
EV scheme norms to be rolled out soon, but no Tesla update
Fund issues may have come in way of EV major's plan
Banks expect 3-4 weeks' leeway for integration
IBA liaising with regulator; issuers put in place systems to go live on BBPS
Air India cancels US flight to ferry T20 world champions
DGCA asks for 'factual report' from the airline
It's showtime for live entertainment
A heady cocktail of social media and youth craving for experiences has triggered a boom in live events. Can it last?
The fate of the compensation cess
In our piece yesterday, we reviewed the performance of the Goods and Services Tax (GST) over the past seven years, emphasising that the states did well but at the cost of a revenue sacrifice by the Centre.
Near-term headwinds seen for realty stocks
Analysts suggest cautious approach, advise against exiting completely
Strong outlook for AMCs but high valuations pose risk
Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker.
Sebi has strong case against Hindenburg, say lawyers
The Indian market regulator, the Securities and Exchange Board of India (Sebi), has a strong case against US-based short-seller Hindenburg Research, who the former has alleged to have traded based on unpublished price-sensitive information.
