The National Payments Corporation of India (NPCI) on June 20, 2024, notified regarding the Blocking of Magstripe and Fallback Transactions on RuPay Cards.
The following has been stated:
• It shall be blocking magstripe and fallback transactions for RuPay cards, this action is aimed at mitigating the risks associated with card skimming and cloning frauds.
• It has endorsed the implementation of rules specified in the Table for blocking Magstripe and Fallback transactions.
• The Internationally acquired transactions using magstripe shall be permitted for credit and debit cards as magstripe transactions are still permitted in other geographies. Issuers are advised to implement suitable controls as they see fit to mitigate the risks associated with magstripe transactions.
This notification will come into force from July 01, 2024.
Kindly find the Table provided with this document attached to the document.
[Notification No NPCI/RuPay/009/2024-25]
