tokenisation

RBI extends tokenisation deadline to June 30 next year

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RBI extends tokenisation deadline to June 30 next year

The Reserve Bank of India (RBI) late Thursday deferred the implementation of mandatory tokenisation of card transactions after the industry sought more time to comply with the latest data safety rules. Merchants will now be allowed to store data until June next year. The earlier tokenisation deadline was January 1. “In light of various representations … Read more

RBI extends scope of tokenisation to laptops, wearable devices

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RBI extends scope of tokenisation to laptops, wearable devices

The Reserve Bank on Wednesday extended the scope of ‘tokenisation’ to several consumer devices, including laptops, desktops, wearables like wristwatches and bands, as well as Internet of Things (IoT) devices. Tokenisation, which aims at improving the safety and security of the payment system, refers to the replacement of actual card details with a unique alternate … Read more