Visa Pauses Commercial Card Payments in India Amid Industry-Wide Investigation

Visa has paused its intermediated commercial card payments in India following an order by the country’s financial market regulator.The Reserve Bank of India (RBI) directed Visa 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,” ...