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Meru Cabs: usage of foreign payment gateways violated RBI guidelines, FEMA rules

In a blog post, Siddhartha Pahwa, CEO of Meru Cabs, has said that the company would like to collaborate with others in the industry to figure out improving the payment experience without compromising safety norms of using cards online. "For example, RBI may come up with a guideline that no additional factor of authentication would be required for transactions below Rs. 2000 and up to a max of 3 transactions in a day," Pahwa said in a blog post on the Meru Cabs blog. This follows an RBI notification which could force Uber to switch to an Indian payment gateway, and adopt a two factor authentication (2FA) process for making payments via its app. For Indian retailers, customers are taken to an external payment gateway, where they have to input a password which is not present on the card, to…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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