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What is Tokenisation?

Tokenisation

About Tokenisation

What is Tokenisation?

Tokenisation refers to the process of replacement of actual card details with a unique alternate code known as the 'token', which shall be unique for a combination of card, token requestor and identified device.
 
The Reserve Bank of India (RBI) has permitted authorised card payment networks to offer card tokenisation services to consumers requesting it, in an effort to improve the safety and security of card transactions.
 
According to RBI, no entity in the card transaction or the payment chain, other than the card issuers and/or card networks, are allowed to store the actual card data. Any such data stored previously
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Latest Updates on Tokenisation

Everything you want to know about tokenisation

For consumers, nothing has changed as token is just replacing the card details. Merchants do not have card details anymore and hence, if their sites are hacked, at best the hacker gets only the token

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Updated On : 17 Oct 2022 | 12:19 AM IST
Updated On : 06 Oct 2022 | 8:29 PM IST
Updated On : 30 Sep 2022 | 6:32 PM IST

Industry prepared for potential disruptions as tokenisation nears

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

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Updated On : 29 Sep 2022 | 10:47 PM IST

Paytm tokenises over 52 mn cards, says on track to meet RBI's deadline

The company has tokenized 52.3 million cards across VISA, Mastercard and RuPay in its effort to make card transactions safer and drive convenience for consumers.

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Updated On : 19 Sep 2022 | 4:00 PM IST
Updated On : 29 Jul 2022 | 1:12 AM IST

Large merchants comply with card tokenisation as deadline nears: Report

The RBI had directed the merchants to implement its tokenisation norms by June 30, 2022. The central bank has twice extended the deadline of its implementation in the past.

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Updated On : 24 Jun 2022 | 4:21 PM IST
Updated On : 09 Jun 2022 | 12:50 PM IST