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U.S. Credit Card Giants Flout India’s New Law on Personal Data

Amazon, which operates an India-only payments service that uses elements of its global technology platform, said in a statement: “Compliance with local laws and regulation is a top priority for us in all the countries we operate in. We continue to work closely with the regulator towards this.”The R.B.I., an agency akin to the Federal Reserve in the United States, has said little about why it decided that Indian financial data must be stored only in India. In its April order, it said, “In order to ensure better monitoring, it is important to have unfettered supervisory access to data stored with these system providers.”Its policy changed as…

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Supreme Court Sides With American Express on Merchant Fees

WASHINGTON — American Express did not violate the antitrust laws by insisting in its contracts with merchants that they do nothing to encourage patrons to use other cards, the Supreme Court ruled on Monday.The decision has implications not only for what one brief called “an astronomical number of retail transactions” but also for other kinds of markets, notably ones on the internet, in which services link consumers and businesses.Such “two-sided platforms,” the court said, require special and seemingly more forgiving antitrust scrutiny.The vote was 5 to 4, with the court’s more conservative members in the majority. Justice Clarence Thomas, writing for the majority, said the specialized nature…

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