Is RBI really banning rent payments through cc?

[Deleted member 30411]

Just got a video recommendation of card academy yt channel, she is telling that P2P payments (Rent & Education ) through various fintech like Phonepe, Mobikwik etc will soon be banned by RBI, it's a 1-2 month old video but is it true ?

I think Rent payments is a good source of incomes for both banks & fintech companies through 2.5% charges.

So what's the problem with RBI?

 

[taskmaster]

Exploitation is the problem

 

[Arseon]

If you're a merchant and you want to accept CC payments, you've to go through multiple kyc checks to get POS terminal, but through these 3rd party apps, anyone can accept CC payments without any KYC. Which RBI doesn't want to allow.

 

[Zacobite]

Just got a video recommendation of card academy yt channel, she is telling that P2P payments (Rent & Education ) through various fintech like Phonepe, Mobikwik etc will soon be banned by RBI, it's a 1-2 month old video but is it true ?

I think Rent payments is a good source of incomes for both banks & fintech companies through 2.5% charges.

So what's the problem with RBI?

problem is that it is a cash move to individuals.. card to cash with no control.. hence the curbs.. security issues as well..all p2p payment are being curtailed..thts why nps tier 2 / mfs also don't take cc as it can be withdrawn for cash