17 Oct 2018
AP — Global credit card and payments companies like American Express, Visa and MasterCard are facing a challenge in meeting a requirement to store transaction data for all Indian customers within the country.
A new rule took effect Tuesday that directs payment companies to store all transaction data on computers inside the country.
Enacted in April by the Reserve Bank of India, the law gave payment companies six months to ensure transaction data of Indian customers was kept within the country to “ensure better monitoring” and “unfettered supervisory access to data.”
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