Card Tokenization Current Affairs, GK & News

RBI: Relaxations in Card Storage Norms

Reserve Bank of India (RBI) recently revised its guidelines on payment aggregators as well as reopened the window to grant licences until September 30, 2022. Before the new guidelines, online non-bank payment aggregators (PAs) were needed to apply to RBI by September 30, 2021 to get authorisation under Payment and Settlement Systems Act, 2007. Highlights ..

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RBI extends deadline for tokenisation of debit and credit cards

Reserve Bank of India (RBI) has extended the timeline for tokenisation of debit and credit cards by three months. Tokenisation can now be done till September 30, 2022. Key Points This decision was taken in consultation with stakeholders, in order to avoid disruption and inconvenience to cardholders. Earlier, June 30, 2022 was the last date ..

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What is RBI’s Card Tokenisation Rule?

Reserve Bank of India (RBI) recently extended the deadline for complying with the card information storage rules by another six months. Key Facts Deadline was extended because merchants and payments companies expressed their inability to comply with the December 31 deadline. RBI took this decision as industry bodies had requested the central bank to extend ..

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NPCI launches NTS platform for Card Tokenisation

National Payments Corporation of India (NPCI) announced for the launch of NPCI Tokenization system (NTS) on October 20, 2021 in order to provide support to the tokenisation of cards as an alternate for storing card details with merchants. Key Facts The NTS will support the tokenisation of RuPay cards in order to further enhance the ..

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Google Pay expands Cards Tokenization

Google has extended card tokenization by bringing in more banks for card on the Google Pay app. What is card tokenization? Card tokenization is a feature which lets users make debit or credit card payments through a secure digital token which is attached to their phone. It does not require to physically share credit or ..

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