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Debit card, credit card rule change: Online card transactions to become faster, more secure as banks to create tokens

Card tokenisation is a major reform to enhance the security of online transactions. As of now, tokens could can only be created at various merchant websites. Now, the Reserve Bank of India (RBI) has proposed to introduce Card-on-File token creation facilities directly at the issuer bank level. A tokenised card transaction is considered safer as the actual card details are not shared or stored with the merchants to perform the transaction. Know how tokenisation works and how it will help you ....

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RBI's new rule for security of credit, debit card data from October 1 --Know all about Tokenisation of Card Transactions

Tokenisation means the details of your cards such as 16-digit number, names, expiry dates and codes which you used to save earlier for the future payments will now be replaced by a token. The token is used by the merchant`s website for the transaction. ....

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