Pine Labs launches 'Plural Tokenizer' to help firms with RBI norms

Service announced in line with central bank's new data security guidelines coming into effect from January 1

Pine Labs, an online merchant commerce platform, has launched a tokenisation solution that works across leading card networks, announcing the service in line with new data security guidelines by India’s central bank coming into effect from January 1.

‘Plural Tokenizer’ Card-on-File or CoF tokenisation solution will replace the debit or credit card details of a cardholder with what are called ‘tokens’ or randomly generated numbers. It uses OTP-based two-factor Authentication, ensuring cryptograms unique to each transaction and issuance of tokens to merchants for a particular use case that cannot be used outside that specific merchant (CoF) use case or domain