Game Over
Today is Monday, which means it's time for our weekly payment news update!
Today is Monday, which means it's time for our weekly payment news update! Our PaymentsWeekly newsletter on Substack covers all the interesting payment news we come across.
If you have any questions or suggestions, just reply to this email. We're always open to hearing what you think.
India starts regulating Crypto
You might remember the Reserve Bank of India (RBI) from their regulatory mandate in 2021, which covered card-on-file payments for both local and cross-border transactions. Now, it looks like the RBI is turning its attention to regulating cryptocurrency.
They're reportedly concerned about the recent collapses of crypto firms like Terra and FTX, which can cause market volatility and uncertainty. The RBI believes that market regulation is the solution, but it seems that regulators don't see much value in the investment aspect of crypto and view the usage of cryptocurrencies as minimal. Read more on coingeek.
Maestro Game Over
Just a heads up - if you're still accepting Maestro as a payment method, you might want to consider updating your integration. As of July 2023, Maestro cards will no longer be issued. However, Mastercard has stated that existing Maestro cards will continue to work until their expiration dates. Read more on thepaypers.
Croatia entered Eurozone
Good news if you haven't been accepting payments in Croatia due to the local currency - as of January 1st, 2023, Croatia has switched to the Euro. This means you may now want to consider accepting payments in Croatia.
Stripe's Response to a Wave of Card Testing Attacks
Stripe has reported a spike in card testing activity during the second half of 2022, but they've implemented some new measures to tackle it. According to Stripe, their new Stripe Radar rules are much smarter and are able to identify card testing attempts more effectively.
You can read full report here.
Thank you for being a part of our community. If you know anyone who might be interested in this information, feel free to forward this email to them!