Debit Card, Credit Card Rules: Card No., CVV Must for Each Payment if This is Not Done by Sept 30
2 years, 3 months ago

Debit Card, Credit Card Rules: Card No., CVV Must for Each Payment if This is Not Done by Sept 30

News 18  

Debit Card, Credit Card Tokenisation Rules: The last date for credit card and debit card tokenisation is approaching soon, and the Reserve Bank of India has been notifying users to complete the process before the deadline. The new date for debit card and credit card tokenisation is September 30. 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. In late June, the RBI had extended the timeline on credit card and debit card tokenisation, by three months till September 30.

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History of this topic

RBI unveils new card-on-file tokenisation for debit and credit cards users. Details here
1 year, 2 months ago

RBI unveils new card-on-file tokenisation for debit and credit cards users. Details here

Live Mint  

The RBI governor, Shaktikanta Das, has recently put forward a proposal to implement card-on-file tokenisation functionality at the issuer-bank level in India, reported TOI. While card tokenisation represented a significant reform aimed at bolstering the security of online transactions, the Reserve Bank of India has now introduced an additional layer of protection. As previously mentioned, the RBI has introduced fresh …

New rules for debit, credit cards kick in with tokenisation from today | FULL DETAILS
2 years, 2 months ago

New rules for debit, credit cards kick in with tokenisation from today | FULL DETAILS

India TV News  

Highlights RBI made it mandatory for all credit, debit card data to be replaced with unique tokens by Sept 30 Added security layer by way of tokenisation is expected to enhance users' digital payment experience The deadline was extended multiple times over the past two years at the request of stakeholders Debit credit cards tokenisation: The Reserve Bank of India …

RBI unlikely to extend 30 September deadline for credit, debit cards
2 years, 2 months ago

RBI unlikely to extend 30 September deadline for credit, debit cards

Live Mint  

India's central bank is unlikely to extend a Friday deadline for businesses to set up an additional layer of security for consumers' credit card data even after some concerns remain over payments failing and revenue losses, say bankers and merchants. Three years ago, India embarked on a mammoth exercise to secure card data by requiring businesses to tokenise cards by …

Debit Card, Credit Card Rule Change: How to Tokenise Your Cards? Here's a Step-by-Step Guide
2 years, 3 months ago

Debit Card, Credit Card Rule Change: How to Tokenise Your Cards? Here's a Step-by-Step Guide

News 18  

From October 1, a new set of rule will come into effect for online payments through debit and credit cards. The credit card and debit card rule change, known as tokenisation, has been notified by the Reserve Bank of India. The RBI has notified these tokenisation guidelines to make the online payment system more secured and safe However, one may …

Credit Card, Debit Card New Rules from Next Month: All You Need to Know About Tokenisation
2 years, 3 months ago

Credit Card, Debit Card New Rules from Next Month: All You Need to Know About Tokenisation

News 18  

The last date to tokenise your credit cards and debit cards is fast approaching, and if you do not follow this new mandate by the Reserve Bank of India, you may have to give more time while making online payments. After a host of delays in implementation, the credit card and debit card tokenisation rules will come into effect from …

SBI Cards ready in all networks for card tokenisation ahead of RBI’s deadline
2 years, 3 months ago

SBI Cards ready in all networks for card tokenisation ahead of RBI’s deadline

Live Mint  

Pure play credit card company, SBI Cards & Payment Services is ready in all networks to move towards card tokenisation. To tackle risks involving card storage data, RBI mandated entities other than card networks and card issuers to not store debit or credit card data with them. Mohan Rao Amara, MD & CEO, SBI Cards and Payment Services on Thursday …

Have you tokenised your credit, debit card? Deadline next month
2 years, 4 months ago

Have you tokenised your credit, debit card? Deadline next month

Live Mint  

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 unique tokens by September 30 this year. The deadline was extended by three months starting July, Currently, many entities, including merchants, involved in an online card transaction chain store card data like card …

Debit Card, Credit Card Tokenisation: RBI Lists Steps to Tokenise Your Card; Check Here
2 years, 4 months ago

Debit Card, Credit Card Tokenisation: RBI Lists Steps to Tokenise Your Card; Check Here

News 18  

Debit Card, Credit Card Tokenisation Rules: Over a month after extending the deadline to tokenise debit cards and credit cards, the Reserve Bank of India has been notifying users about completing the process as soon as possible. The new date for debit card and credit card tokenisation is September 30. In a recent tweet, the RBI also explained in six …

Credit Card, Income Tax Rules, TDS on Crypto: 5 Finance Rule Changes From July 1
2 years, 5 months ago

Credit Card, Income Tax Rules, TDS on Crypto: 5 Finance Rule Changes From July 1

News 18  

Financial Changes from July 1: The month of July is going to kick in soon, and this means there will be a host of changes that will affect your money matters. From credit card rules change, income tax rule change, to TDS on cryptocurrencies, a host of new financial rules in July are about to set in. Here are Five …

RBI Extends Deadline for Complying with Card Tokenisation Norms by 3 Months: What It Means
2 years, 5 months ago

RBI Extends Deadline for Complying with Card Tokenisation Norms by 3 Months: What It Means

News 18  

Mumbai, Jun 24: The Reserve Bank of India on Friday extended the card-on-file tokenisation deadline by three months to September 30, 2022, in view of various representations received from industry bodies. Tokenisation is the process of replacing actual card details with a unique alternate code called 'Token' – thereby enabling more secure transactions. As per the RBI mandate to enhance …

Credit, Debit Card New Rule: Enter Card No., CVV Every Time You Pay Online From July or Follow This
2 years, 6 months ago

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

News 18  

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 …

Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes
2 years, 6 months ago

Credit Card: RBI Extends Deadline to Implement New Rules to October 1; Know the Changes

News 18  

The Reserve Bank of India on Tuesday extended the timeline to implement various provisions related to credit card issuance till October 1. Moreover, the terms and conditions for payment of credit card dues, including the minimum amount due, shall be stipulated, the Reserve Bank of India said. Credit Card Rules to Change from July 1 Earlier in April, the Reserve …

Credit Card, Debit Card Tokenisation From July 1: How to Tokenise Cards, Key Details
2 years, 6 months ago

Credit Card, Debit Card Tokenisation From July 1: How to Tokenise Cards, Key Details

News 18  

Come July 1, debit card and credit card rules with regard to online payments will change for customers across India. This is because the Reserve Bank of India is set to implement the credit card and debit card tokenisation rule whereby online merchants will not be allowed to store customer data on their servers so as to protect their privacy. …

Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details
2 years, 6 months ago

Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details

News 18  

Debit, Credit Card Tokenisation: From next month, every Indian who does online transactions using a debit or credit card will have to remember their card details every time they make a payment as these rules are going to change from July 1. From this date, the Reserve Bank of India, or RBI, which is in charge of setting banking rules …

What is credit, debit card tokenisation?
2 years, 6 months ago

What is credit, debit card tokenisation?

India Today  

Usually, the card details of a customer making any online transactions are saved from the merchant’s side to the payment aggregators and gateways of acquiring banks. The current card details are replaced by an alternate code known as a token. The token requestor is an entity that accepts requests from the customer for card tokenization and sends them to the …

Debit, Credit Card Rule Changes Next Month: Enter Card Number for Every Online Payment or Do This
2 years, 6 months ago

Debit, Credit Card Rule Changes Next Month: Enter Card Number for Every Online Payment or Do This

News 18  

Debit, Credit Card Tokenisation: The Reserve Bank of India or the RBI, being thhe central bank of the country, is in charge of protecting the security of all citizens in India who carry out bank transactions. With an aim to protect the security of customers, the RBI last year issued debit card and credit card tokenisation guidelines whereby merchants were …

Debit Card, Credit Card Online Payment Tokenisation Rule Ready to be Implemented, Says RBI
2 years, 6 months ago

Debit Card, Credit Card Online Payment Tokenisation Rule Ready to be Implemented, Says RBI

News 18  

RBI MPC Meet: Reserve Bank of India deputy governor T Rabi Sankar on Wednesday, June 8, said that the payments ecosystem in India is ‘by and large prepared’ for implementation of the tokenisation system for card-based transactions, including online transactions. The RBI deputy governor’s comments came weeks ahead of the June 30 deadline after which the new tokenisation norms will …

RBI new rules on issue of credit cards, debit cards: All you need to know
2 years, 8 months ago

RBI new rules on issue of credit cards, debit cards: All you need to know

Hindustan Times  

The Reserve Bank of India on Thursday announced new rules for the issue of credit cards and debit cards, as well as directions to issuing agencies. these Directions relating to debit cards shall apply to every bank operating in India." Consent for the issue of cards must be explicit; written consent is needed before a credit card can be issued. …

Explained | What is tokenisation of debit and credit cards?
2 years, 11 months ago

Explained | What is tokenisation of debit and credit cards?

The Hindu  

The story so far: The Reserve Bank of India on December 23 extended the deadline given to online merchants and financial payments companies for the tokenisation of card data used for online transactions. It wanted to put an end to the practice of online merchants storing the card details of customers, which the Central bank believed could lead to misuse …

New Online Card Payment Rules Delayed To July 2022: Details
2 years, 11 months ago

New Online Card Payment Rules Delayed To July 2022: Details

News 18  

Apps and websites like Amazon, Flipkart, Zomato, and more will not be able to save your card information on their platforms, according to new guidelines from the Reserve Bank of India. In a press release, RBI said that tokenisation of card data shall be done with explicit customer consent requiring additional authentication. Tokenisation helps apps to replace card details with …

RBI defers tokenisation deadline by six months
3 years ago

RBI defers tokenisation deadline by six months

The Hindu  

The Reserve Bank of India has decided to defer the implementation of tokenisation of debit and credit cards for online transactions by a further six months following representations from stakeholders. “The timeline for storing of CoF data is extended by six months till June 30, 2022; post this, such data shall be purged,” the central bank said on Thursday. “In …

RBI's push for card security to hit merchants, lenders
3 years ago

RBI's push for card security to hit merchants, lenders

The Hindu  

The Reserve Bank of India's plans to move towards card tokenisation is likely to hit a wide range of companies from major e-commerce firms and food delivery firms to lenders, while increasing the use of cash, said industry sources and bankers. "Introducing an additional step in payments adds friction and several studies show that customers may end up dropping out …

RBI wants you to memorise all your debit, credit card numbers, expiry and CVV | Here's why
3 years, 4 months ago

RBI wants you to memorise all your debit, credit card numbers, expiry and CVV | Here's why

India TV News  

Memorising 16-digits debit cards or credit cards numbers is a difficult task. All this to prevent online merchants, e-commerce websites, and payment aggregators to store the card details of a customer online or on their servers or databases. The revised regulations prevent payment aggregators, e-commerce websites and online merchants like Amazon to Flipkart to Google Pay to PayTM to Netflix …

Debit Card, Credit Card new rules come into force from October 1. All you need to know
4 years, 2 months ago

Debit Card, Credit Card new rules come into force from October 1. All you need to know

India TV News  

In an attempt to make online and card payments more secure, the Reserve Bank of India has issued new guidelines that will be effective from October 1, 2020. RBI's new guidelines for Credit, Debit card holders: As per new rules, people will now be able to register for preferences such as opt-in or opt-out services, spend limits and other services …

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