Credit, Debit Card New Rule: Enter Card No., CVV Every Time You Pay Online From July or Follow This

The Reserve Bank of India has said that the payment ecosystem in India is ‘by and large’ prepared to adopt the tokenisation rule from July 1. After the credit card and debit card tokenisation rule gets implemented across the country, domestic online merchants will not be allowed to store customer data on their servers. Once credit card and debit card tokenisation is done, payment aggregators, wallets and online merchants will not be able to store your card data including debit or credit card number, CVV, card expiration date and other sensitive information. Benefits of Card Tokenisation i. Debit card and credit card tokenisation will ensure more secured online transactions as there will be no data of the customer stored at the merchants’ website or mobile application. However, CVV and OTP authentication requirements will continue to be in place as an added layer of protection for customers, including those who have provided consent to debit card and credit card tokenisation.