Indian Banking regulator, Reserve Bank of India, has fined Card company VISA over the use of Unauthorised  Payment Methods. The RBI slapped a penalty of USD 288,000 (Rs. 2.4 Crore) over what is says was the implementation of a payment authentication solution, that was not given regulatory clearance by the RBI.

VISA issued a statement acknowledging the RBI order and said that the card company stayed committed to following RBI guidelines and regulations in order to continue to provide safe and secure payment solutions in India. The RBI also ordered VISA to stop utilising 'illegal' routes to make commerical payments.