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, 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 …
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 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 …
