NDTV Story
The Reserve Bank of India (RBI) has mandated that all credit and debit card data used in online, point-of-sale, and in-app transactions be replaced with unique tokens by September 30, 2022.
The RBI created new regulations to safeguard customers in response to unsafe online practices.
According to the RBI, "Tokenisation refers to the replacement of actual card details with an alternate code called the 'token', which shall be unique for a combination of card, token requestor (i.e. the entity which accepts a request from the customer for tokenisation of a card and passes it on to the card network to issue a corresponding token) and device (referred hereafter as "identified device")."
Tokenisation FAQ
The Reserve Bank of India (RBI) has mandated that all credit and debit card data used in online, point-of-sale, and in-app transactions be replaced with unique tokens by September 30, 2022.
The RBI created new regulations to safeguard customers in response to unsafe online practices.
According to the RBI, "Tokenisation refers to the replacement of actual card details with an alternate code called the 'token', which shall be unique for a combination of card, token requestor (i.e. the entity which accepts a request from the customer for tokenisation of a card and passes it on to the card network to issue a corresponding token) and device (referred hereafter as "identified device")."
Tokenisation FAQ
