News

India cenbank seeks to give customers choice of card network The Reserve Bank of India (RBI) on Wednesday asked banks and non-bank lenders to issue credit, debit and prepaid cards on multiple networks to give customers the freedom to choose. "On a review, it is observed that arrangements existing between card networks and card issuers (banks and non-banks) are not conducive to the availability of choice for customers," the RBI said in a draft circular seeking comments. Networks of American Express, Diners Club International, Mastercard,...
India cenbank seeks to give customers choice of card network
India cenbank seeks to give customers choice of card network
Source: Reuters
5/07/2023 8:18:57 PM
Visa acquires fintech startup Pismo for $1 billion  Credit card major Visa has acquired Pismo, a cloud-native issuer processing and core banking platform, for $1 billion in cash. Pismo has operations in Latin America, Asia Pacific and Europe. The fintech startup also has some customers in India, Southeast Asia and Australia. With the acquisition, Visa will be positioned to provide core banking and issuer processing capabilities across debit, prepaid, credit and commercial cards for clients via cloud native application programmin...
Visa acquires fintech startup Pismo for $1 billion
Visa acquires fintech startup Pismo for $1 billion
Source: IANS
29/06/2023 11:52:49 AM
PayU, Visa and YES BANK launch Business Payment Solution Provider program for businesses PayU, India's leading online payments solution provider has launched Business Payment Solution Provider (BPSP) for Visa Commercial Card customers in collaboration with Visa & YES BANK as the acquiring bank.   BPSP offers several benefits including flexible commercial offerings, which reduce costs for merchants. It also helps them improve their cash flow by utilizing credit lines provided by their commercial card issuer bank. This solution allows businesses to pay their...
PayU, Visa and YES BANK launch Business Payment Solution Provider program for businesses
PayU, Visa and YES BANK launch Business Payment Solution Provider program for businesses
Source: PR Agency
1/06/2023 5:56:54 PM
Cap reached for H-2B visas for second half of FY 2023 AThe US has received a sufficient number of applications to meet the congressionally-mandated H-2B cap for the second half of fiscal year 2023, the country's federal agency for immigration services announced. The US Citizenship and Immigration Services (USCIS) said February 27 was the final receipt date for new cap-subject H-2B worker petitions requesting an employment start date on or after April 1 and before October 1. Currently, the congressionally-mandated cap for H-2B visa is s...
Cap reached for H-2B visas for second half of FY 2023
Cap reached for H-2B visas for second half of FY 2023
Source: IANS
3/03/2023 11:19:51 AM
Visa's finance chief Vasant Prabhu to leave payments giant Visa said on Thursday its chief financial officer, Vasant Prabhu, will leave the company on Sept. 30, after eight years as one of the top executives at the payments giant. Shares in Visa, which have gained about 9% so far this year, were down marginally in extended trading after the announcement. The leadership change comes at a time when Visa is grappling with revenue growth winding back to pre-pandemic levels in the first quarter as the post-lockdown travel craze ebbed and consumer sp...
Visa's finance chief Vasant Prabhu to leave payments giant
Visa's finance chief Vasant Prabhu to leave payments giant
Source: Reuters
17/02/2023 10:47:04 AM
Falling rupee makes studying abroad costlier Studying abroad has become costlier amid a sharp fall in rupee. The cost for studying in the US has gone up by Rs 1.5 to 2 lakh per year. The increase in tuition fees in the US, the UK and Australia by 10 to 20 per cent is another reason behind the costlier education abroad. Also, the airfares have increased in recent times, which has added burden on students studying abroad. Adding to the woes, the visas of lakhs of Indian students have not been approved in countries like the US, the...
Falling rupee makes studying abroad costlier
Falling rupee makes studying abroad costlier
Source: IANS
9/10/2022 9:33:47 AM
Samsung launches credit card in India with 10% cashback on its products 24/7 Samsung India on Monday announced its first-ever credit card in India in partnership with Axis Bank and Visa, that will give customers 10 per cent cashback across all Samsung products and services round the year. The 10 per cent cashback offer will be over and above the company's offers, on both EMI and non-EMI transactions. "We realise that 70 per cent of consumers are upgrading their devices within 12 months of purchase in the country. This co-branded credit card will help th...
Samsung launches credit card in India with 10% cashback on its products 24/7
Samsung launches credit card in India with 10% cashback on its products 24/7
Source: IANS
26/09/2022 1:22:18 PM
Paytm tokenizes over 52 mn cards across VISA, Mastercard & RuPay  Paytm, One97 Communications brand has announced that the company has now tokenized over 93 per cent of the monthly active cards on their application. The company has tokenized 52.3 million cards across VISA, Mastercard and RuPay in its effort to make card transactions safer and drive convenience for consumers. "We have made great progress in card-on-file tokenization, with over 93 per cent of monthly active cards on Paytm app tokenized. Being a leader in digital payments, we ...
Paytm tokenizes over 52 mn cards across VISA, Mastercard & RuPay
Paytm tokenizes over 52 mn cards across VISA, Mastercard & RuPay
Source: IANS
19/09/2022 3:50:07 PM
Contactless payments witnessed a 6x growth in the last 3 years: Visa and Worldline India Whitepaper Mumbai – Visa (NYSE: V), the global leader in digital payments, today released a whitepaper in partnership with payments processor Worldline India on the growth of contactless payments adoption in India. The whitepaper, ‘India taps into a Contactless Future’, analyses India’s journey with digital payments infrastructure and contactless payments, highlighting the rapidly growing adoption across regions and sectors. Contactless payments saw a tremendous surge in ...
Contactless payments witnessed a 6x growth in the last 3 years: Visa and Worldline India Whitepaper
Contactless payments witnessed a 6x growth in the last 3 years: Visa and Worldline India Whitepaper
Source: PR Agency
17/06/2022 8:55:30 AM
UAE announces new visa and residence scheme to attract global talent The UAE had adopted a new liberalised Entry and Residence Scheme, including new categories and expanding the scope of beneficiaries. The initiative is aimed at supporting the country's competitiveness in the tourism, economic and educational sectors. Aiming at attracting and retaining global talent, the UAE has updated the Golden Residence rules as a part of the new Entry and Residence Scheme. The scope of beneficiaries has been expanded to offer more benefits, including 10 years of...
UAE announces new visa and residence scheme to attract global talent
UAE announces new visa and residence scheme to attract global talent
Source: IANS
19/04/2022 10:20:03 AM
Russian banks switch to Chinese UnionPay after withdrawal of Visa and MasterCard Several Russian banks on Sunday announced plans to start issuing cards using the Chinese UnionPay card operator system. The step, which came shortly after Mastercard and Visa pledged to cease operations in Russia and disconnect all the country's banks from their payment systems, will enable the holders of new cards to use them for paying and withdrawing cash abroad, RT reported. On Saturday, international financial service providers Visa and Mastercard said they would suspend operat...
Russian banks switch to Chinese UnionPay after withdrawal of Visa and MasterCard
Russian banks switch to Chinese UnionPay after withdrawal of Visa and MasterCard
Source: IANS
7/03/2022 9:37:36 AM
Visa, Mastercard suspend all Russia operations In another blow to Russia's financial system, Visa and Mastercard have announced to suspend all operations in the country in the wake of Ukraine invasion. Visa said that it will work with its clients and partners within Russia to cease all Visa transactions over the coming days. Once complete, all transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa card issued by financial institutions outside of Russia will no longer work wit...
Visa, Mastercard suspend all Russia operations
Visa, Mastercard suspend all Russia operations
Source: IANS
6/03/2022 11:02:33 AM
Paytm Payments Bank issues 7 mn Visa cards in FY21, aims to ramp up card offerings to drive financial inclusion India's homegrown Paytm Payments Bank has announced that it has issued seven million Visa debit cards through its platform in FY'21. The Bank has overachieved its target of issuing one million Visa cards in FY'21, driven by the strong adoption of innovative products developed by the bank and the acceptance of digital payments in India. With this, the Bank continues to drive financial inclusion in India by enabling users with digital payments and access to financial services. ...
Paytm Payments Bank issues 7 mn Visa cards in FY21, aims to ramp up card offerings to drive financial inclusion
Paytm Payments Bank issues 7 mn Visa cards in FY21, aims to ramp up card offerings to drive financial inclusion
Source: IANS
1/03/2022 1:44:30 PM
Visa launches crypto advisory service for financial institutions, merchants Visa Inc, the world's largest payment processor, launched a global crypto advisory service for its banking clients and merchants on Wednesday, as the adoption of digital currencies gains steam. The move is aimed at financial institutions eager to attract or retain customers with crypto offerings, retailers looking to delve into non-fungible tokens (NFTs) or central banks exploring digital currencies, the company said. Visa's services include educating institutions about cryptocu...
Visa launches crypto advisory service for financial institutions, merchants
Visa launches crypto advisory service for financial institutions, merchants
Source: Reuters
8/12/2021 7:06:10 PM
Visa launches India's first card 'token' service for online platforms Digital payments firm Visa on Wednesday launched Card-on-File (CoF) tokenization services in India in line with the recently issued guidelines by the Reserve Bank of India (RBI) to secure customers' financial data. Visa's card tokenisation service is currently available with ecommerce platforms such as Grofers, Bigbasket and MakeMyTrip. "Having launched CoF tokenization services in over 130 countries globally, we are confident of the technology's ability to build a safe...
Visa launches India's first card 'token' service for online platforms
Visa launches India's first card 'token' service for online platforms
Source: IANS
6/10/2021 5:30:51 PM
Nepal introduces digital visa system Nepal on Monday launched a digital visa system to replace its 45-year-old hand-written visa regime. Deputy Prime Minister and Home Minister Bishnu Prasad Paudel inaugurated the new system under which visas are produced digitally from the integrated information system of the Department of Immigration, the Xinhua news agency reported. According to a statement by the Department of Immigration, key features of the digital visa system include hologram and water mark as security features and ...
Nepal introduces digital visa system
Nepal introduces digital visa system
Source: IANS
29/06/2021 9:46:24 AM