About RBI’s New Data Storage Rules

The recent RBI guidelines like halting recurring transactions, inability for merchants to store card details, might affect incentivising card purchases and partnerships in general, especially around online stores. How would it affect the future prospects of Fintech firms is something that is curious to speculate. How would it affect payment gateways, partnership models etc.?
And possibilities to adopt UPI mandates to facilitate recurring payments, building partnerships, rewards and profiteering around UPI in the industry.
Would really love a fintech veteran’s view over it @Jiten

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