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The apex bank wanted the new rules to come into effect in July this year but because banks were not ready it was postponed by six months RBI guidelines | Representative Image New guidelines

proposed by the Reserve Bank of India (RBI) prevents payment aggregators and merchants like Amazon, Flipkart and Netflix from storing the information credit or debit card used by the

customer on their servers or databases. The new guidelines basically mean that customers with debit cards or credit cards will now have to punch in their 16-digit card number in order to

make a payment.  This might slow down the process but this aims to secure the information and make sure that payment gateways are not storing any data.  If the changes go through as expected

in January 2022, it will be best for customers to remember their 16-digit credit or debit card numbers as it will be easy for them to shop online.  No matter where you shop from, you will

have to punch in the 16-digit number along with the expiry date and CVV for any sort of transaction.  Generally, the e-commerce model works on the data stored by the companies who use it to

market new items to customer demographics based on the information they have. Once the guidelines are implemented, it will become difficult for such sites to target their audience and

decrease their reach.  Since paying with credit or debit cards might become more troublesome, people might turn to a different payment method, the UPI. The UPI does not require any

information as such, once you link the app to your bank account and you are good to go.  The apex bank wanted the new rules to come into effect in July this year but because banks were not

ready it was postponed by six months.