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Card Transactions
Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"
How can India create 75 more Tiruppurs? What legacy has Pallonji Mistry left behind? Will fizz return to liquor stocks? What is tokenisation? All answers here
RBI is firm on implementing tokenisation, which will make your debit or credit card transactions more secure. The deadline to implement it has been pushed to Sept 30. Find out what is tokenisation.
The landmark has been achieved in line with RBI's guidelines focusing on security and enhanced checkout experience, said Visa
Encourages cardholders to tokenise data themselves for preventing fraud
Reserve Bank of India has, over the past decade, put in place various safety and security measures for card payments, including the requirement of AFA, especially for 'card-not-present' transactions
ATMs across banks are all set to increase service charges per transaction from Saturday, following an order from RBI and customers will have to Rs 1 more beyond permissible free transactions
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday.
Visa's card tokenisation service is currently available with ecommerce platforms such as Grofers, Bigbasket and MakeMyTrip.
The Reserve Bank of India accuses it of breaking local data-storage rules
Experts said it is a step in the right direction by the RBI and people have been asking it to enhance the limit.
A new mobile-first authentication solution rolled out by the payments major allows such transactions only for deals below Rs 2,000
The debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last year when it stood at Rs 40,130 crore, thanks to the government push for non-cash payments, says a study. The transaction volume at all points of sale (POSes) clipped higher by 86 per cent to 378 million in September this year over the same period last year when it stood at 203 million, European payment solutions provider Worldline said in a weekend report quoting the Reserve Bank data. In September 2016 the number stood at 203 million, it added. "With demonetisation, people were pushed to use non- cash modes of payment for everyday expenses. Even after the cash is back to the pre-demonetisation levels, there is a visible growth in card transactions," Deepak Chandnani, chief executive of Worldline South Asia & Middle East, told PTI. The push to increase cards usage started with the Prime Minister Jan Dhan Yojana ...
3.2 million cards had been affected by the breach, causing a scare over security of card-based transactions
The 11-member high-level panel has been tasked with reviewing the payment system in the country and suggest measures