Tuesday, December 14, 2021
The Reserve Bank of India, i.e. India’s central bank, has prescribed certain card data storage restrictions applicable to online merchants, payment aggregators and all players in the digital payments’ ecosystem, barring card networks and issuers. This change effective from January 1, 2022, ought to have an impact on online business and consumers alike, especially for online subscription-based services which rely on automatic recurring payments.
To ensure business continuity, industry players have been exploring alternative solutions to comply and cope with the new requirements. These involve solutions such as tokenization, a technology solution driven by card networks and issuers. Given that the development, testing and deployment of card tokenization solutions involve the efficient collaboration of multiple stakeholders in the payment ecosystem, an all-hands-on-deck approach is needed to meet the ambitious timeline, without affecting online businesses and consumer experience.
We cordially invite you to be a part of an interactive webinar to discuss the challenges associated with recurring payments, tokenization solutions and its impact on data storage / localization.
Focus Area
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Changes prescribed by the RBI in digital payments and its industry impact
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Workable models as alternatives, such as tokenization and its scope of application
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Industry challenges and operation hurdles
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Impact on consumers and recurring payments towards online subscriptions
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Realistic implementation timelines
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Suggestions for continuity in business and consumer experience
Flow of the session
3:30 PM – 3:45 PM (IST) |
Introduction |
3:45 PM – 4:45 PM (IST) |
Panel Session |
4:45 PM – 5:00 PM (IST) |
Audience Q&A |
Speakers
Mohit Bedi
SVP and Business Head
– Acquiring and Commercial Cards, Axis Bank
Mohit is a Senior Vice President at Axis Bank and Heads the Merchant Acquiring and Commercial Cards segment, wherein his responsibilities include shaping strategies for business growth, analysing segment potential, establishing multi-disciplinary teams, and fostering relationships with the merchants, regulatory bodies and other stakeholders to drive expansion of digital payment acceptance. During his tenure his track record includes improving bank’s market share, P&L management along with overseeing customer acquisition engine through a high-impact sales force. He has previously worked at Standard Chartered Bank, heading Credit Cards, Products and Originations and at Barclays as Head of Bancassurance.
Sheetal Kapur
Payments Lawyer and Policy Expert
Sheetal Kapur holds expertise in laws and regulations governing the information technology, data privacy and protection, payments, other financial services and e-commerce. She has extensive knowledge of the payments and fin-tech industry in India and is experienced in corporate commercial drafting and legal advisory across sectors.
Sudipta Jash
Head of International Business, PayU Payments
Sudipta Jash is the Head of International Business at PayU Payments, a global fintech leader offering innovative payment, credit, and investment solutions across more than 50 markets worldwide. He helps global merchants of all sizes expand into emerging markets including India. Sudipta brings an expansive global work experience of in Business Development, Engagement Management and Business Analysis. Prior to joining PayU, he was based in the United States with Mphasis Inc., as a Management Consultant and worked extensively with wide range of clients including JP Morgan, Citibank, Green Dot, Charles Schwab and Wolters Kluwer. He also had a short stint with Mphasis Europe in Brussels and Dublin.
Ashish Aggarwal
Vice President and Head of Public Policy, NASSCOM
Ashish leads public policy function at NASSCOM which involves a range of technology policy issues related to competition, data, taxation, consumer protection and emerging business models. Previously, at the National Institute of Public Finance and Policy, he led the technical assistance to the Ministry of Finance on the regulatory architecture around FinTech and consumer protection in the financial sector. Earlier, he co-incubated micro pensions to enable low income workers to save for old age and advised Governments on pension reforms. He began his career as an economic journalist.
Gowree Gokhale
Head
– TMT & IP, Nishith
Desai Associates
A practicing lawyer for 24 years, Gowree Gokhale leads the IP, Technology, Media and Entertainment, data protection law practice of Nishith Desai Associates. She has assisted several international businesses in India entry strategy, corporate and strategic deals, litigation and arbitration in TMT and Pharma sector.
She has spearheaded several policy initiatives for the TMT and Pharma industry including for online content companies, gaming industry, IT industry as also for privacy and data protection laws. She has also been consistently working on high tech industry aspects. She has been named in several legal directories, including in in the Hall of Fame (TMT) in Legal 500.
One of the foremost authorities on IP management and protection strategy, Gowree has been the leading voice on several IP and technology related matters. She has been instrumental in devising IP litigation strategies for clients and has led several IP litigations before several prestigious forums in India.
Huzefa Tavawalla
Head
– Disruptive Technologies & Fintech, Nishith Desai Associates
Huzefa Tavawalla heads the Bangalore office along with the Disruptive Technologies Practice at NDA. He is also a techno enthusiast and has worked on several matters relating Drones, RPAS, Artificial Intelligence, Driverless Cars, AR/VR etc. He was also appointed as a task force committee member set up by the Indian Government to establish the legislative drone road map for India.
Huzefa has also been at the forefront of outbound and global M&A’s in particular project management for large cross border acquisitions. Further, he continues to advise on several cutting edge, complex and cross-border TMT matters.
Aaron Kamath
Leader – TMT and Fintech, Nishith
Desai Associates
Aaron is a lawyer and leader of the International Commercial Laws and Technology-Media- Telecommunication Laws Practice Group.
Aaron advises clients on complex cross-border transactions including technology deals, mergers and acquisitions, private equity investments, legal and regulatory matters & commercial transactions across various sectors, with special focus on IT, digital media, e-commerce, retail and fin-tech.
He advises a number of multi-national corporations on various legal and regulatory aspects including privacy-related compliances and documentation; IP structuring, strategy and prosecution. He has also done extensive research and assisted clients in relation to disruptive technologies including AI, IoT, cloud computing and Ed-tech.
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