Indian online merchants cannot store credit card information from 2022

Post by 2Gkashmiri » Fri, Dec 17, 2021, 11:27 AM UTC

ghoomketu wrote: post #43

blueblisters wrote: post #15

Is the RBI deliberately trying to handicap credit cards in India? The decision to make recurring payments impossible, followed by having to enter card information every time I do an online transaction is making for a very frustrating experience. The justification for these decisions is always "consumer interest" but how is making consumers jump through hoops to do transact online in consumer interest? I wish the indu…

Yes this is stupid and it has caused me a lot of trouble since this all started. I am now seriously thinking of leaving this country and going to NZ or Canada (something which I did not want to do because of my parents). Doing business in India is so frickin hard, especially after GST. I have to spend so much time on accounting nowadays and it's getting harder and harder every day (even though all the ads say otherwi…

Post by ehnto » Fri, Dec 17, 2021, 11:30 AM UTC

neya wrote: post #19

This is actually a good thing. Think of it like Apple's email masking service - Merchants can only store a tokenized version of your credit card instead of the real card details. I say this is a good thing after having worked with many E-Commerce shops in India as a consultant. Most of them barely know a thing about security, let alone about PCI DSS compliance. I have worked with shops that stored the entire credit c…

Post by unmole » Fri, Dec 17, 2021, 11:31 AM UTC

diebeforei485 wrote: post #42

Something I learned in college - not all countries have the same laws as the US where it's easy to dispute a charge and the burden of proof is with the merchant. If India is one of those places where the burden of proof is on the customer, and it's difficult to dispute charges, it makes sense to tokenize things.

Post by ratww » Fri, Dec 17, 2021, 11:39 AM UTC

sudhirj wrote: post #20

blueblisters wrote: post #15

Is the RBI deliberately trying to handicap credit cards in India? The decision to make recurring payments impossible, followed by having to enter card information every time I do an online transaction is making for a very frustrating experience. The justification for these decisions is always "consumer interest" but how is making consumers jump through hoops to do transact online in consumer interest? I wish the indu…

So the order doesn’t prohibit tokenizing or saving cards, it specifies who can save them. Earlier, merchants could save the details, and this ability leads to massive amounts of fraud and theft (see US right now). Then only regulated payment aggregators could save them, and issue a token to the merchants. Stealing the token wasn’t too helpful because you couldn’t grab the money, the token was tied to the merchant. Bu…

Post by mrweasel » Fri, Dec 17, 2021, 11:45 AM UTC

vlovich123 wrote: post #17

blueblisters wrote: post #15

Is the RBI deliberately trying to handicap credit cards in India? The decision to make recurring payments impossible, followed by having to enter card information every time I do an online transaction is making for a very frustrating experience. The justification for these decisions is always "consumer interest" but how is making consumers jump through hoops to do transact online in consumer interest? I wish the indu…

I would love to be able to have to proactively authorize every single recurring purchase via a tap on my phone. If I have enough that I’m being overwhelmed there’s a good chance I’m not tracking my purchases very well and there could even be fraud I’m missing. There’s some use-cases maybe where automatic billing is required but the vast majority would do better to need to prompt the user.