Tokenisation Process News Today

The RBI has extended the card-on-file tokenisation or token creation facility at the level of the issuer bank. It was earlier available only through merchant applications or websites. This means that customers can now tokenise their cards directly with their banks instead of having to do so through a merchant. This will make the tokenisation process more convenient and secure for customers. - RBI Unveils New Facility To Empower Debit And Credit Card Users; Heres What You Should Know

To improve the standards of online payments, RBIs new rule for credit cards and debit cards came into effect from October 1.

RBI has made tokenization regulations public in order to improve the security and safety of the online transaction process.