Tuesday, August 26, 2014

Card payment conundrum

........As the Uber case reveals, there may be a case for relaxing norms for card payments up to some small value - say, Rs 1,000 a day by deleting second authentication. This will hopefully facilitate the growth of other small-value card payments and more such businesses in the country. However, people feel uncomfortable in sharing the card verification value or CVV number with companies on a regular basis, which could create difficulties for the cardholders in case a company goes rogue..........

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