Credit and Debit Card Rule Are Going To Change from1st January

Debit/Credit Cards News

New Delhi: After launching “One Nation One Ration” scheme Indian card company RuPay has issued contactless debit and credit cards. With this card, you can easily make payments from public transport to shopping malls everywhere On Friday, Reserve Bank of India Governor Shaktikant Das said that the rules for contactless card payments have been changed drastically. According to the new rules, from now on, a maximum of Rs 5,000 can be paid on a contactless card without a PIN. This rule will be implemented in the whole country from January 1, 2021. At present, a maximum of Rs 2,000 can be paid on a contactless card

This card is like a smart card. The Delhi Metro uses a card that you can recharge and use. From now on debit or credit cards issued by RuPay in the country will have the National Common Mobility Card feature. It will work just like any other wallet

With the help of this technology, there is no need to swipe the card. After inserting the card in the point of sale (POS) machine, the payment will be done. Contactless credit cards can be used in two ways one is by Near Field Communication and another one is by Radio Frequency Identification (RFID). Payment will be made as soon as the card is taken to the machine in this way.

Even if the machine is in the range of 2 to 5 centimetres, the payment will be made from the card. 5 contactless transactions can be done in one day. In case of payment more than this you have to give PIN. From January 1, the limit for contactless transactions has been increased from rupees 2,000 to 5,000.

Follow and Connect with Us on Facebook, Twitter, Linkedin, Google News


Leave a Reply

Your email address will not be published. Required fields are marked *