Visa and Mastercard have reportedly paused intermediated commercial card payments in India following an order by the country’s financial market regulator.
The Reserve Bank of India (RBI) directed the firms to halt domestic transactions for business payment solution providers (BPSPs), Reuters reported Wednesday (Feb. 14).
“Visa received a communication from the RBI on February 8, in what appears to be an industry-wide request for information on the role of business payment solution providers (BPSPs) in commercial and business payments,” a Visa India spokesperson said in the report.
The spokesperson did not…