Credit Card, Debit Card New Rules from Next Month: All You Need to Know About Tokenisation
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 October 1. All You Need to Know About Credit Card, Debit Card New Rules 1. According to the RBI website, “Tokenisation refers to replacement of actual card details with an alternate code called the “token”, which shall be unique for a combination of card, token requestor and device.” Customers who do transactions online have already been receiving notifications to save or tokenise their card before October 1, meaning the deadline is on September 30. Credit card and debit card tokenisation does not allow merchants to store your data, and also gives an added layer of protection through entering your CVV and the OTP received, thereby making online transactions more safe.
Debit Card, Credit Card Online Payment Rule Changes from Next Month: Know Details
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