Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know

A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing

credit card

BS Web Team New Delhi
The Reserve Bank of India's (RBI's) card-on-file tokenisation rule is all set to kick in from October 1. Under the new norm, the central bank has made it mandatory for all credit and debit card data used in online, point-of-sale, and in-app transactions to be replaced with unique tokens. 

Here is all you need to know about card tokenisation:

What is card tokenisation?

According to the RBI, tokenisation means the details of a customer's debit/credit card, such as 16-digit number, names, expiry dates and codes, which used to be saved for future payments, will now be replaced with an alternate code, called token.

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First Published: Sep 18 2022 | 1:46 PM IST

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