Facing Online card payment problem? Know 5 debit card, credit card changes that took place ahead of Coronavirus lockdown

Prime Minister Narendra Modi has announced lockdown extension today and now it will continue till 3rd May 2020. The first phase of COVID-19 lockdown was implemented on 25th March 2020 to 14th April 2020. During this first phase of lockdown, various announcements were made, which include LPG subsidy, EPF relief, extension of Income Tax Return (ITR) filing, etc. However, just nine days before on 16th March 2020, the Government of India made some changes in debit card and credit card transactions rules. But, due to the Coronavirus hullabaloo, it went almost unnoticed. But, for debit cards or credit cards holders, these changes are going to affect their online transaction to a large extent. This has happened at a time when online transactions  are a must in order to not leave home and to maintain social distancing during Coronavirus lockdown.

Since, April is the beginning of the new financial year, it has been found that reissue of the debit card, credit card during February to March 2020 may create some problem for users while executing online transactions.

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So, it is important for debit, credit card users to know these changes to ensure smooth and hassle-free online transactions are made possible. Here are the top 5 debit card, credit card changes that got implemented from 16th March 2020:

1] All newly issued or reissued debit cards, credit cards from 16th March 2020 will be enabled only for domestic transactions at ATM and PoS (Point of Sale) terminals;

2] For online transactions or contactless transactions, the cardholder will have to request the issuing bank to enable the services (earlier it used to come automatically to the cardholders);

3] For international usages of the debit, credit card, the cardholder will have to put request to bank for enabling international transactions;

4] Those existing debit, credit cards that haven't been used for online transactions or international transactions, the issuing bank will have the option to disable these online transaction services to those existing debit, credit cards; and

5] Bank will have the right to deactivate debit card, credit card and reissue them on the basis of risk perception.

So, if you are unable to do online transaction or contactless transaction from your existing debit, credit card, then your bank might have deactivated your services due to non-use of the online transaction services for long-time. There can be some other reason for that as well.