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Last date to tokenise your card is September 30th 2022. Here’s how you can tokenise:

The Reserve Bank of India (RBI) extended the deadline for tokenising credit and debit cards by three months, from June 30 to September 30, on July 24. Payment aggregators, wallets, and online retailers (apart from card issuers and card networks) have been ordered by the RBI not to hold any sensitive card-related consumer information, including complete card data. The card numbers can therefore be swapped out for a “token.”

The mandate for the RBI would go into effect on October 1, 2022. This improvement will increase the security of credit card transactions, according to the RBI.

This sudden uproar of conversation around this topic might be a bit disorienting, so let’s get into the basics of credit and debit cards and how merchants use our details to complete a transaction successfully. We will also see the benefits of the tokenisation policy if there are any.

Why was the deadline for tokenisation extended once again on July 24, 2022?

On July 24, 2022, the RBI decided to extend the deadline for tokenisation once again and postponed it to 30 September 2022. Since there were many stakeholders involved in refurbishing the whole system of online card payments, RBI heard the grievances of the people involved in the industry and took the decision to extend the deadline in order to make the transition from the older system of card storage to CoF tokenisation smoother.

Also Read : Tokenisation: All you need to know

The action was taken in response to concerns expressed by digital payment companies about the industry’s readiness, including those of Merchant Payments Alliance of India (MPAI) and the Alliance of Digital India Foundation (ADIF). The industry associations expressed their concerns about the industry’s preparation for the RBI mandate on card-on-file tokenisation, citing a number of operational problems that will obstruct the shift to the token-based payments environment.

The Reserve Bank of India also stated in the circular that this extended time period may be utilized by the industry for, (a) facilitating all stakeholders to be ready for handling tokenised transactions; (b) processing transactions based on tokens; (c) implementing an alternate mechanism(s) to handle all post-transaction activities (including chargeback handling and settlement) related to guest checkout transactions, that currently involve /require storage of CoF data by entities other than card issuers and card networks.

How to tokenise your card? (Step by step guide)

The following are very simple steps to tokenise your card successfully:

Step 1: Go to any e-commerce/ merchant website or mobile app to purchase something and initiate a transaction.

Step 2: At the time of the check-out, select your bank’s credit/debit card as a payment method and enter all details.

Step 3: Tick the option “secure your card as per RBI guidelines” or “tokenise your card as per RBI guidelines”.

Step 4: Put in the OTP sent on your mobile by the card company and finish the transaction. In case you don’t get an OTP, check your email.

Step 5: Your token has been generated successfully and saved instead of the actual details of your card.

Step 6: Next time you make a transaction on the same website, you can recognize your preferred card by its last four digits and make the transaction seamlessly.

Follow the above steps to tokenise your other cards as well.


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