Credit Cards and Debit Cards are making our lives easier than ever. You can pay anywhere with the help of Credit Card or Debit Card. If you are in the road and running low on liquid money you can use Credit Cards and Debit Cards to pay for anything. Even Credit Cards and Debit Cards offers are amazing, mostly Credit Card offers amazing features and benefits, and also you can earn reward points and can avail amazing gifts and merchandise from that Credit Card website.

The basic idea of Debit Card is with to transfer money from your savings account to the merchant while doing payments, while the basic idea of credit card is to lend money from lender while paying the merchant and you have to repay that amount at the end of billing cycle or you have to pay the interest rate which is 2%-3% per month. Credit Cards have eligibility criteria while Debit Card has no eligibility criteria, if you have a savings account in a bank you can easily opt for a debit card. Here we will talk about new facilities on credit cards and debit cards which will make payments easier.

• If the cardholder wants to give a mandate to Credit Card and debit card issuer and the merchant will get the automated payments to the merchant. The maximum limit for this kind of transaction is Rs. 2000.
• The new e-mandate facility on credit card and debit card or wallets will be only for recurring transactions and not for a “once-only” payment, as RBI said
• Credit Card and Debit Cardholders can avail this facility without even paying extra.
• If someone wants to avail this process he or she can have to go through a one-time registration process with AFA (Additional Factor of Authentication) validation by the issuer.
• This method of payment will be performed only for those cards that are successfully registered and their first transaction is successful, authenticated and authorized as per RBI said.
• The subsequent transaction may be performed without doing AFA.
• If you want to back out from this process after a time you can easily do it by an online facility.
• When you will withdraw this e-mandate the merchant has to delete all their data, and delete all details which also includes the payment instrument information, the RBI said.
• The card issuers have to put in place “an appropriate redress system to facilitate the cardholder to lodge grievances. Card networks shall also put in place dispute resolution mechanism for resolving these disputes with clear turnaround time,” the RBI said.