In a Communication issued by RBI said that, At the time of issue / re-issue, all cards (physical and virtual) shall be enabled for use only at contact-based points of usage [viz. ATMs and Point of Sale (PoS) devices] within India. Issuers shall provide cardholders a facility for enabling card, not present (domestic and international) transactions, card-present (international) transactions and contactless transactions, as per the process outlined in para 1 (c).
For existing cards, issuers may take a decision, based on their risk perception, whether to disable the card, not present (domestic and international) transactions, card-present (international) transactions and contactless transaction rights. Existing cards that have never been used for online (cards not present) / international/contactless transactions shall be mandatorily disabled for this purpose.
Additionally, the issuers shall provide to all cardholders:
- facility to switch on / off and set/modify transaction limits (within the overall cards limit, if any, set by the issuer) for all types of transactions – domestic and international, at PoS / ATMs / online transactions / contactless transactions, etc.;
- the above facility on a 24×7 basis through multiple channels – mobile application/internet banking / ATMs / Interactive Voice Response (IVR); this may also be offered at branches/offices;
- alerts / information / status, etc., through SMS / e-mail, as and when there is any change in status of the cards.