How new debit, credit card rules will affect you? Details here
Come 1 October, the rules for online payments for debit and credit cards will change. The Reserve Bank of India 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 tokens by September 30 this year. The added layer of security for debit, credit card holders by way of tokenisation is expected to enhance users' digital payment experience. Benefit of tokenisation A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during the processing of the transaction. Impact on customers on tokenisation Currently, many entities, including merchants, involved in an online card transaction chain store card data like card number, expiry date, etc.
Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details
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