People are using more digital payments to order food, shop online, and book cabs. As the digital world is full of threats, the RBI is making sure to provide better security and make online payments safer.
The Reserve Bank Of India has asked all merchants and payment gateways to remove sensitive customer details and debit-credit cards that are saved on their end. The new rule is all set to come into effect from January 1.
The order of the RBI says that the merchants and payment gateways will have to delete all the saved information that is stored on their website. The user will have to fill in their full card details in order to make payments on the merchant website. The banks have also started to inform their customers about the changes coming into effect from January 1.
