Now, Visa, Mastercard stop business payments via commercial cards after RBI directions

The Reserve Bank of India (RBI) has directed card networks like Visa and Mastercard to suspend card-based commercial payments made by corporations and small enterprises. Transactions at possible unauthorized business outlets accepting card payments have been temporarily halted. The reason behind this directive is unclear, but it is believed to be related to concerns about non-KYC-ed merchants accepting card payments.

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