The Reserve Bank of India is planning to make it mandatory for customers to enter all their card details, including name, 16-digit debit/ credit card number, expiry date, and CVV for every online payment, in an attempt to secure the card information. The new regulations are likely to come in from January of 2022, according to media reports. The revised rules will mean that everytime one makes a purchase on Amazon and Flipkart, pays through Paytm and Google Pay, or renews subscription on Netflix, the details will have to be typed. Adding details for every transaction might be a monotonous process, especially for those owning more than one card. But by preventing payment aggregators such as Google Pay and PayTM, and e-commerce websites such as Amazon and Flipkart from storing customers’ card information on their servers and databases, the new rules will ensure customer safety and data security.
