RBI credit card rules will cut off their data

The latest RBI norms limit the role of a co-branding partner entity to marketing and customer acquisition

The party was just getting started for India’s fintech firms, and the central bank has taken the bowl away.

Fintech firms betting on co-branded credit cards fear that latest Reserve Bank of India (RBI) rules on credit card issuance will cut off their access to customer transaction data.

The rules limit the role of a co-branding partner entity to marketing and customer acquisition.

The USP of fintechs was getting that data, analyzing it, and customizing solutions for customers.