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RBI on tokenising cards to create a secure payment system in India
By Puja Sharma
The RBI prohibited merchants from storing card information on their servers beginning January 1, 2022, and mandated the use of card-on-file (CoF) tokenisation as an alternative to card storage. The policy applies to domestic purchases made online. Tokenisation is the process of replacing credit and debit card details with a code, called a token, that […]
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