https://www.taxtmi.com/news?id=26650 The draft RBI circular mandates that card issuers (banks and non-banks) issue debit, credit and prepaid cards on more than one card network and provide customers the facility to choose among those networks. It forbids contractual arrangements that limit issuers' ability to tie up with other card networks, aiming to prevent exclusivity or tying clauses and to promote customer choice and interoperability. The draft is open for stakeholder comments before finalisation. en-us Thu, 06 Jul 2023 09:36:08 +0530 Thu, 06 Jul 2023 09:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26650 The draft RBI circular mandates that card issuers (banks and non-banks) issue debit, credit and prepaid cards on more than one card network and provide customers the facility to choose among those networks. It forbids contractual arrangements that limit issuers' ability to tie up with other card networks, aiming to prevent exclusivity or tying clauses and to promote customer choice and interoperability. The draft is open for stakeholder comments before finalisation. News - Thu, 06 Jul 2023 09:36:08 +0530 https://www.taxtmi.com/news?id=26650