Secure transaction for cards
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भारतीय रिज़र्व बैंक RESERVE BANK OF INDIA
www. rbi. org. in
RBI / 2019 – 20 / 142 DPSS. CO. PD No. 1343 / 02. 14. 003 / 2019 – 20
January 15, 2020
The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks ( SCBs ) including Regional Rural Banks ( RRBs ) / Urban Co – operative Banks ( UCBS ) / State Co – operative Banks ( StCBs ) / District Central Co – operative Banks (
DCCBS ) / Payments Banks ( PBs ) / Small Finance Banks ( SFB ) / Local Area Banks ( LAB ) / Authorised Card Payment Networks / Non – Bank PPI issuers
Madam / Dear Sir, Enhancing Security of Card Transactions
Over the years, the volume and value of transactions made through cards have increased manifold. To improve user convenience and increase the security of card transactions, it has been decided as under:
a ) At the time of issue / re – issue, all cards ( physical and virtual ) shall be enabled for use only
at contact based points of usage [ viz. ATMs and Point of Sale ( POS ) devices ] within India. Issuers shall provide cardholders a facility for enabling card not present ( domestic and international ) transactions, card present international ) transactions and contactless
transactions, as per the process outlined in para 1 ( c ). b ) For existing cards, issuers may take a decision, based on their risk perception, whether to
disable the card not present ( domestic and international transactions, card present ( international ) transactions and contactless transaction rights. Existing cards which have never been used for online ( card not present ) / international / contactless transactions shall be mandatorily disabled for this purpose.
TR. 14 – aar. * TATHATTE, STE, A – 400001 Tel: ( 91 – 22 ) 2264 4995; Fax: ( 91 – 22 ) 22691557
e – mail: cgmdpssco @ rbi. org. in Department of Payment and Settlement Systems, Central Office. 14th Floor, Central Office Building. Shahid Bhagat Singh Road. Fort, Mumbai –
400001 FRA STETS
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Additionally, the issuers shall provide to all cardholders:
i. facility to switch on / off and set / modify transaction limits ( within the overall card limit,
if any, set by the issuer ) for all types of transactions – domestic and international, at
POSI ATMs / online transactions / contactless transactions, etc.; ii. the above facility on a 24×7 basis through multiple channels – mobile application /
internet banking I ATMs / Interactive Voice Response ( IVR ); this may also be offered
at branches I offices; iii. alerts / information / status, etc., through SMS / e – mail, as and when there is any
change in status of the card.
The provisions of this circular are not mandatory for prepaid gift cards and those used at mass transit systems.
Issuers and card networks may give wide publicity to the provisions of this circular.
These directions are issued under Section 10 ( 2 ) of the Payment and Settlement Systems Act, 2007 ( Act 51 of 2007 ) and shall come into effect from March 16, 2020.
( P. Vasudevan ) Chief General Manager