RBI imposes restrictions on Mastercard from onboarding new customers from July 22
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Content Team
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RBI on Wednesday imposed restrictions on Mastercard from onboarding new domestic customers (debit, credit or prepaid) onto its network from July 22 for non-compliance with 'directions on Storage of Payment System Data'. As per an official statment, RBI said the new order will not impact existing customers of Mastercard. RBI also instructed Mastercard to advise all card-issuing banks and non-banks to conform to the directions.
