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Authorization hold. Authorization hold (also card authorization, preauthorization, or preauth) is a service offered by credit and debit card providers whereby the provider puts a hold of the amount approved by the cardholder, reducing the balance of available funds until the merchant clears the transaction (also called settlement ), after the ...
Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
The poster child for India’s liberalized banking sector is joining the ranks of the world’s largest companies. Mumbai-based HDFC Bank is fresh off last year’s $40 billion merger with its ...
HDFC Bank Limited. HDFC Bank Limited (also known as HDFC) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's tenth-largest bank by market capitalization as of May 2024. [ 9][ 10][ 11] The Reserve Bank of India (RBI) has identified the HDFC Bank, State ...
The Reserve Bank of India’s directive, which goes into effect on Friday, requires banks, financial institutions and payment gateways to obtain additional approval for auto-renewables ...
Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [ 1][ 2] It is used on mobile devices to instantly transfer ...
India launches Account Aggregator to extend financial services to millions. India’s top banks five years ago built the interoperable UPI rails and enabled over 150 million people in the South ...
The Bengaluru-headquartered startup is co-launching the credit card with HDFC Bank, India’s largest private bank. The credit card will offer customers a 10% cash back on spends on Swiggy and 5% ...