Comments
Ahead of the deadline for card tokenisation, National Payments Corporation of India(NPCI) has joined hands with brands and aggregators such as bigbasket, Goibibo, MakeMyTrip, JioPay, Juspay, Paytm, and PhonePe to introduce a tokenisation facility supported by the recently launched NPCI Tokenisation System (NTS).
“This facility will help millions of customers maintain the security of their card financial data for online transactions, as their RuPay card details will now be completely safe and secure in a secure vault within NTS,” NPCI said in a statement.
Also read: Card tokenisation unlikely to take off by RBI’s deadline of January 1
Several other merchants and aggregators are expected to enable this functionality of Card token-on-File soon, it further said.
With NTS, these brands can now save the token reference number (token reference on file) against all existing stored card numbers, which enhances safety and further strengthen the digital payments ecosystem in the country.
The deadline for card tokenisation is December 31, 2021 and effective January 1, 2022, no entity in the card transaction or payment chain, other than the card issuers and / or card networks, shall store the actual card data.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.