RBI allows ‘tokenisation’

January 10, 201912 days 990
  • The RBI has allowed tokenization of debit, credit and prepaid card transactions to enhance the safety of the digital payments’ ecosystem in the country.
  • Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit Account Number, expiration date and security code.
  • The central bank has allowed card schemes like Visa, Mastercard and others to start issuing tokens for third party payment applications as well.

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