Discussion
Mastercard complains to US govt about Indian PM's RuPay promotion
Hitesh Thakkar

Hitesh Thakkar

  M/VISA had presence in India with issuance of Credit cards (ofcourse, we all missed AmEx which never disputed on any such issues because it knows how to make for it's margins :)) MC/V promoted Debit card issuance with big banks in India from 1998 onwards but did not cover 50% of the banks with high sign up fees, certification fee, settlement charges where as RuPay is being issued by more than 1000 banks (Public, Private, Co-op banks all were asked with very minimal sign up amount and resulted in surge in transactions and card holders. It also helped in bringing interchange fees down from Rs 25/- (0.38 USD) to Rs. 15 (0.21 USD) as well as upgraded to global standards such as CHIP Migration as well as issuance of Credit cards. Recent directives from RBI's directives on data storage is purely to insultate Indian citizens from incidents of massive data theft by big corporates and banks. We can draw analogy from cloud services providers such as Microsoft, AWS which started with Europe and US locations of it's data centers and now has well balanced India footprint again data security issue was the common issue raised while migrating to Cloud and it was needed in customer centric envrionment.  
Stripe buys Touchtech ahead of new EU online authentication rules
Hitesh Thakkar

Hitesh Thakkar

  SCA poses both challenge for adding layers in transaction completion but opportunity to build safe and secure transaction which can lead to decrease in frauds and chargebacks.  What stops in building Phone with QR code and Face ID as way to authorise transaction which is as quick as entering 6 digit passcode for txn with value above EUR30?