‘Low KYC’ norm to help mobile wallets retain their customers — Economic Times — “In a move set to bring relief to scores of mobile wallet firms such as Paytm, PhonePe, Amazon Pay and their several million users, the Reserve Bank of India (RBI) will allow wallet service providers to continue operating their millions of non-compliant know-your-customer (KYC) accounts which earlier faced cancellation… An estimated over 200m mobile wallets ran the risk of being cancelled by the regulators, once the deadline to upgrade their non-compliant accounts to ‘full KYC’ accounts expires on February 29.”
- Starling Bank adds connected cards for volunteer shoppers
- Kenya, Tanzania, Uganda and Mauritius to increase contactless transaction limit
- Belgium increases contactless transaction limit to €50
- BIS reports on likely impact of Covid-19 on cash, cards and mobile payments
- UK supermarkets launch digital volunteer shopping cards
