Category: Payment and Settlement Systems

Debit Cards

A debit card (also known as a bank card or check card ) is a payment card that provides the cardholder electronic access to their bank account (s) at a financial institution. When the card holder makes a purchase with a debit card, the merchant establishment swipes the card on an electronic data capture machine […]

Credit Cards

A Credit Card is an instrument of payment. It allows the cardholder to pay for goods and services based on the holder’s promise to pay for them. A number of parties are involved in credit card transactions and there is a contract between the card issuer and the card holder. The issuer of the card […]

Board for Regulation and Supervision of Payment and Settlement Systems (BPSS)

The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a sub-committee of the Central Board of the Reserve Bank of India is the highest policy making body on payment systems in the country. The BPSS is empowered for authorising, prescribing policies and setting standards for regulating and supervising all the payment and […]

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