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India's central bank permits tokenisation of card transactions

Jan 09, 2019 - Marketline Newswire

Reserve Bank of India (RBI) has issued guidelines on tokenisation of debit, credit and prepaid card transactions in a bid to ensure secure payment systems across the country.

The central bank has allowed authorised card payment networks, such as Visa and Mastercard, to provide card tokenisation services to any token requestor.Tokenisation replaces sensitive card information with a unique alternate code called ‘token’.Instead of actual card details, this token can be used to mak...