2 years, 6 months ago

Today is the deadline for RBI’s tokenization of debit, credit cards

By September 30, all credit and debit card information used for online, in-app and point-of-sale transactions must be replaced with distinct tokens, according to the Reserve Bank of India. Given the ease and comfort of cardholders for future transactions, many organisations, including shops, both online and offline, retain card data like card number, expiration date etc. Tokenization of credit and debit cards is the process of swapping out sensitive data with a token, or a randomly-generated unique placeholder, from the business's internal network. This token is utilised to get access to, retrieve and maintain a client's credit and debit card information in order to offer a higher level of security for both the customer and the business.

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