Key Points
The central banks latest diktat barring exclusive deals between banks and card companies could disrupt their mutually beneficial partnerships..
RBI diktat to banks, credit card companies set to upend long-term integrations ..
The Reserve Bank of India has continued with its actions on digital payments and the larger tech-enabled finserv sector with the latest one playing out on credit cards...
No way out: Delisting themselves from Play Store to avoid paying the commission will not be an easy decision, given the scale and access that the Android maker gives to the 568 million mobile gaming population in India, industry executives pointed out...
Gaming cos wary: Online gaming companies, through their industry lobby groups, had made representations to the government seeking its intervention in stopping endorsement of illegal activities like betting and gambling...
You might be interested in
Credit card spending hits record high at Rs 1.4 lakh crore in May; cards in use at 87.4 million
16, Jul, 23Credit card spending in India has risen to Rs 1.4 lakh crore in May, according to the Reserve Bank of India. This represents an increase of 5% per month this year. Furthermore, the number of credit cards in active use has risen by more than 5 million since January 2023 and reached 87.4 million in May, which is an all-time high. However, a Transunion Cibil report has cautioned that credit card delinquencies have been rising, increasing by 66 basis points to 2.94% in March 2023.
Online gaming platforms against SRO backed by IAMAI: sources
08, May, 23Online gaming platforms feel interests of the industry grouping not aligned with their own.
RBI diktat to banks, credit card companies set to upend long-term integrations
07, Mar, 24For several years, banks have been dependent on deep integrations and partnerships with companies like Visa and Mastercard to make credit card operations profitable for them and attractive for customers. But now, given the choice, if consumers want to move to other card schemes like RuPay, those partnerships will get disrupted.
VIP programs offered by online gambling companies draw federal scrutiny
28, Mar, 24Following WSJ report, Sen. Richard Blumenthal asks FanDuel, DraftKings, others how they target big spenders and VIPs.
Personal data to be shielded from AI; gaming GST may hit fintech ecosystem
17, Jul, 23Generative artificial intelligence (AI) has stunned companies and commoners alike with its abilities. But with public attention comes regulatory scrutiny. Experts say that Indias new data protection bill may be tough for platforms like ChatGPT and Googles Bard. This and more in todays ETtech Morning Dispatch.
'If fantasy games are OK, why not online betting?'
11, Apr, 23India Business News: Online gaming companies have welcomed recent changes in the IT Rules for ensuring "policy certainty", but not everyone is enthused.
Banks get ready to count int'l credit card spend in liberalised remittance scheme
25, Mar, 24Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integrate their systems with the RBIs for capturing the card spend information of individual customers during personal foreign tours.
Gaming firms seek clarity on revised rules
08, Apr, 23Government feels rules are self-explanatory, asks companies for inputs on the working of SROs
Centre planning to raise odds against illegal betting companies
16, Oct, 23The government found as many as 114 illegal betting and gambling platforms operating in India through domain farming, people aware of the details told ET.
Credit card dues at ₹2 trillion by April mark a milestone
09, Jul, 23Indian credit card holders owed their banks ₹2 trillion in dues by April, the first time this milestone was reached. Banks will be delighted at the growth in this business, but high outstanding dues also present a risk.