Payment companies reach the deadline to keep data in India
Payment companies reach the deadline to keep data in India
<img width = "80" height = "80" src = "data: image / gif; base64, R0lGODlhAQABAIAAAAAAAP /// yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class = "attachment-blog-navi size-blog-navi wp-post-image" alt = "" data-attachment-id = "29419" data-permalink = "https://www.eresviral.com/uncategorized/seema-verma-administrador-de-medicare-y-medicaid-signos-de-estabilidad-en- el-mercado-de-atencion-medica-individual / attachment / seema-verma-administrator-de-medicare-y-medicaid-signs-of-stability-in-the-market-of-attention-individual-medical / "data -orig-file = "https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y-Medicaid-signos-de- stability-in-the-market-of-attention-medical-individual.jpg? fit = 985% 2C554 & ssl = 1 "data-orig-size =" 985,554 "data-comments-opened =" 1 "data-image-meta = "{" aperture ":" 0 "," credit ":" "," camera ":" "," caption ":" "," created_timestamp ":" 0 "," copyright ":" "," focal_length ": "0", "iso": "0", "shutter_speed": "0", "title": "", "orientation": "0"} "data-image-title ="Seema Verma, administrator of Medicare and Medicaid: signs of stability in the individual health care market "data-image-description =" "data-medium-file =" https://i0.wp.com/www.eresviral.com /wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y-Medicaid-signos-de-estabilidad-en-el-elcado-de-atención-médica-individual.jpg?fit=300 % 2C169 & ssl = 1 "data-large-file =" https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y- Medicaid-signs-of-stability-in-the-market-of-health-care-individual.jpg? Fit = 985% 2C554 & ssl = 1 "data-lazy-src =" https://i0.wp.com/www .eresviral.com / wp-content / uploads / 2018/10 / Seema-Verma-administrator-of-Medicare-and-Medicaid-signs-of-stability-in-the-market-of-medical-care-individual.jpg ? resize = 80% 2C80 & ssl = 1 "data-lazy-srcset =" https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de- Medicare-and-Medicaid-signs-of-stability-in-the-market-of-medical-care-i ndividual.jpg? resize = 150% 2C150 & ssl = 1 150w, https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y -Medicaid-signs-of-stability-in-the-market-of-medical-attention-individual.jpg? Resize = 85% 2C85 & ssl = 1 85w, https://i0.wp.com/www.eresviral.com/ wp-content / uploads / 2018/10 / Seema-Verma-administrator-of-Medicare-and-Medicaid-signs-of-stability-in-the-market-of-attention-medical-individual.jpg? resize = 80% 2C80 & ssl = 1 80w, https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y-Medicaid-signos-de-stabilidad -in-the-market-of-attention-medical-individual.jpg? resize = 300% 2C300 & ssl = 1 300w, https://i0.wp.com/www.eresviral.com/wp-content/uploads/2018/ 10 / Seema-Verma-administrator-of-Medicare-and-Medicaid-signs-of-stability-in-the-market-of-medical-care-individual.jpg? Resize = 100% 2C100 & ssl = 1 100w, https: / /i0.wp.com/www.eresviral.com/wp-content/uploads/2018/10/Seema-Verma-administrador-de-Medicare-y-Medicaid -signs-of-stability-in-the-market-of-attention-medical-individual.jpg? zoom = 3 & resize = 80% 2C80 & ssl = 1 240w "data-lazy-sizes =" (max-width: 80px) 100vw, 80px "/>Seema Verma, administrator of Medicare and Medicaid: signs of stability in the individual health care market
October 16, 2018
Payment companies reach the deadline to keep data in India
Payment companies and global credit cards as American ExpressVisa and MasterCard face the challenge of meeting the requirement to store transaction data for all Indian customers within the country.
On Tuesday, a new rule came into effect that orders payment companies to store all transaction data on computers in the country.
Enacted in April by the Reserve Bank of India, the law granted the payment companies six months to ensure that the transaction data of Indian customers were kept in the country to "guarantee better monitoring" and a " supervisory access without restrictions to the data ".
However, the directive clarified that data from foreign parties of such transactions can be stored outside of India.
It was not clear whether foreign payment providers such as American Express, Visa and MasterCard had met the deadline or whether the Indian central bank would take immediate action in case of default.
Officials from the Reserve Bank of India did not comment.
Press Trust of India news agency reported that some global financial technology caused companies to seek an extension of the term, although most have complied.
India has a competitive market for payments and the new rules have been well received by national companies such as Paytm. A local payment system, called the Unified Payment Interface, accounts for almost half of the value of credit and debit card transactions in the country.
Regulators strive to use such tools to help more Indian citizens, who have traditionally bought and sold things using cash, to the formal online economy.
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