Tag: card tokenisation

Tokenize your debit card, credit card for safe online transactions from Oct 1
1Oct By adminNo Comments
Technology

Tokenize your debit card, credit card for safe online transactions from Oct 1

[ad_1] If online is your preferred mode of payment, you can use a virtual code instead of exposing your actual card details. If online is your preferred mode of payment, you can use a virtual code instead of exposing your actual card details to shield against data thefts and financial frauds from Saturday, as RBI norms on card tokenization come into force.Card-on-file Tokenization (CoFT) is a process through which the actual details such as the 16-digit number, expiry date on a credit or debit card are replaced by a virtual code which is unique for that card, merchant point where it is to be used and the token requestor (or the card user). As per RBI guidelines, payment aggregators, wallets and online merchants (entities in c...
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Alert! RBI card tokenisation rule starts Oct 1; know how to do it on your debit, credit card
30Sep By adminNo Comments
Technology

Alert! RBI card tokenisation rule starts Oct 1; know how to do it on your debit, credit card

[ad_1] The RBI debit and credit card tokenisation rule will come into effect stating tomorrow, October 1. Here are the details you need to know. Your online transactions, like making payments for shopping, will be changing from tomorrow, October 1, 2022. While making online payments, you must have noticed that your debit card and credit card details get saved by many organisations. They retain card details like card number, expiration date, and more. Though saving these details makes your payment making process easier, it also raises the risk of card information being misused or stolen. In order to curb online fraud, the Reserve Bank of India (RBI) has asked all merchants and payment gateways to remove customer details of deb...
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