RBI flags business credit card violations by fintech companies

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A day after the RBI instructed payment networks Visa and Mastercard to stop enabling business credit card issuances by fintech aggregators, the central bank stated on Thursday that there were other violations, including payments made to illegal merchants. RBI said that a card network had an arrangement that enabled businesses to make card payments through certain intermediaries, to entities that do not accept card payments.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iGpU3Ft

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