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    Diksha D Jadhav in News

    06-Oct-2022 10:44 AM


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    New rules for credit and debit card users: here is everything about tokenisation

    Starting this month, October 1, the Reserve Bank of India's (RBI) card-on-file (CoF) tokenisation rules have come into effect with the aim of offering safe and secure card transactions.

    The new credit and debit card rules have come into effect after multiple extensions.

    The RBI Deputy Governor recently said that extensions were given to the system for a comfortable switchover.

    "We just wanted to make sure that the customer's safety doesn't get compromised because of problems faced in the implementation of tokenisation.

    To opt for tokenisation, a debit or credit card user will first need to send a request on the app provided by the token requester.
    Source: BusinessToday