New rules for Credit and Debit Card from October | India

New rules for Credit and Debit Card from October | India

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Announcement!!

"By September 30 of this year, all credit and debit card used for online, in-app, and point-of-sale transactions must be replaced with distinct tokens."

-RBI

Tokenisation

of Credit and Debit Cards

Tooltip

replacing a card’s 16-digit number with a unique alternate card number (Token)

It is more secure as actual card details are not shared during any transaction

Why Tokenisation?

Only authorised card networks and list of entities specified by RBI can perform Tokenisation

Who can "Tokenise"?

Customers need not pay any charges to avail this service

Any charges?

Instances allowed for Tokenisation

Mobile phones and tablets for channels

Is Tokenisation mandatory?

NO, it is not mandatory for customers to go for tokenisation

Any limit on Tokenisation request?

Customers can request for any number of cards for Tokenisation

Stay tuned with us!!