New debit, credit card rules to kick in next month
Card tokenisation from July 01, 2022
Here are the details
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What has happened?
RBI has ordered card tokenisation of debit, credit cards
The order has been delayed several times
Final deadline is June 30, 2022
What does it mean for you?
If not done already, you will need to tokenise your card
This can be done using your payment processor's portal
Benefits of card tokenisation
Improves card safety on online payments
Free of cost
Will be convenient to use
How does it work?
Assigns token to each card, preventing online fraud
Card details not shared with any online portal
Conforms to international standards
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