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Sunday, September 7, 2014

RBI regulation impacting Uber, Google & Apple in India

Recent RBI regulation in regard to requirement of 2 step verification for payment via debit/credit card for goods/services sold/provided in India will have direct impact on Uber, Google & Amazon too. Currently these companies are using international payment gateway to receive payment from debit/credit card in India and don't require to follow 2 step verification. However, the recent regulation will require these companies to modify their existing process or need to come up with some new innovative solution to receive payments.

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