New Debit/Credit Card Rules from July 1, 2022: Implementation of Card Tokenization
From July 1, 2022, online commerce platforms will not be allowed to save card-on-file credentials and RBI has proposed card tokenization as a solution.
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From July 1, 2022, online commerce platforms will not be allowed to save card-on-file credentials and RBI has proposed card tokenization as a solution.
By June 2022, India will mandate the deletion of card-on-file details for online transactions, opening space for fintech disruptors for card tokenization.
In 2022, digital payments compliance in India will require mandatory deletion of card-on-file details, thereby opening space for fintech disruptors.
The Reserve Bank of India on Thursday extended card tokenization deadline by six months till June 30, 2022, from the earlier deadline of December 31, 2021.
A new regulatory framework expected to kick in from 1 January 2022 will change how you transact online