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Citi ordered to pay $770 million over credit card practices

Last Updated: Wednesday, July 22, 2015, 06:35

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

Citibank ordered to pay $700 mln over credit card practices

Last Updated: Tuesday, July 21, 2015, 22:22

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

RBI tightens norms for credit card billing

Last Updated: Thursday, July 16, 2015, 21:59

The Reserve Bank on Thursday asked banks to levy any late payment penalty on credit card customers, or report them to credit information companies, only if the payment has been due for more than three days.

Uber restarts credit card payments in India

Last Updated: Monday, July 13, 2015, 12:42

According to the Techcrunch.com, the company has partnered with mobile payment processing company MobiKwik to resume card payment along with support for debit cards.

JPMorgan to pay over $125 million to settle US credit card debt probes 

Last Updated: Wednesday, July 8, 2015, 10:46

The settlement also includes about $50 million in restitution, the sources said. 

Bajaj Allianz launches weather-based crop insurance

Last Updated: Sunday, June 28, 2015, 15:55

Vice president & Head Agriculture Business, Bajaj Allianz Ashish Agarwa said, "The company has identified the need to offer the product in these areas looking at the volumes of the produce and how unfavourable weather conditions had an impact on the produce."

Tax benefits for credit, debit card payments welcomed

Last Updated: Tuesday, June 23, 2015, 21:50

"Tax benefits in terms of income tax rebates to be considered to consumers for paying a certain proportion of their expenditure through electronic means," said the draft proposals on which comments have been invited till June 29.

No transaction fee for Google on mobile phone payments

Last Updated: Saturday, June 6, 2015, 23:44

Google`s service will not receive any fees for the transactions, the newspaper reported, citing unidentified people familiar with the situation. It said Visa Inc and Mastercard Inc have made their "tokenization" card-security service free, which prevents payments services from charging fees to issuers.

Snapdeal to allow payment by credit & debit cards on delivery

Last Updated: Sunday, May 31, 2015, 14:46

Under the service, GoJavas will equip its delivery staff to carry POS (transaction) machines to allow users to pay using their credit and debit cards.

Federal Bank, SBI Card collaborate to launch credit cards

Last Updated: Monday, May 18, 2015, 20:44

Private sector Federal Bank along with card issuing company SBI Card Monday launched co-branded credit cards.

China opens bank card clearing sector to foreign firms

Last Updated: Thursday, April 23, 2015, 10:33

China has announced plans that will allow giants such as Visa and MasterCard to set up credit card clearing services in the country, breaking the monopoly in a multi-trillion-dollar market foreign firms have been trying to tap for decades.

Australia's ANZ Bank wins appeal on unfair fees class action

Last Updated: Wednesday, April 8, 2015, 08:52

Australia and New Zealand Banking Group on Wednesday won an appeal against a court ruling that some of its credit card fees were unfair, after thousands of disgruntled customers launched Australia`s biggest ever class action.