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RBI Tokenisation: Debit, credit card rules are changing from October 1, how will this affect you? Check details here

New tokenisation rule: RBI has asked all operating banks to create tokens for card details. In layman’s language, all online, point-of-sale, and in-app transactions done by debit and credit cards will have to be replaced by tokens issued by the banks. ....

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Credit and Debit card rules changing from October 1: THIS new SYSTEM will protect shoppers against online FRAUDS

The 16-digit card number will be replaced with a token that is created by the card network and sent back to the retailer. This token will be kept on file by the retailer for future transactions. They will now have to enter their CVV and OTP, same as previously, in order to approve. ....

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