Debit, Credit Card Rule Changes Next Month: Enter Card Number for Every Online Payment or Do This
News 18Debit, 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 prohibited from storing the data of customers’ cards on their servers with effect. The deadline of the countrywide adoption to card tokenisation was extended by six months from January 1 to July 1 2022, to ensure a smooth shift from the current situation. RBI Card Tokenisation: A Timeline Earlier, the RBI had said that the new card tokenisation rule will be applicable from January 1, 2022 onwards. Post June 30, that is from July 1, credit and debit card data available with payment merchants will be purged, the RBI said.