How to tokenize debit and credit cards, understand the process in 6 steps

The card details in the token, the details of the merchant or online site on which the card is being used, will be sent to the card issuing company. After this, the card issuing company will make the complete details in the form of a code and send it to the merchant.

The rule of card tokenization came into effect from October 1

Regarding debit and credit cards Reserve Bank of India Has issued a new rule from 1 October. According to this rule, the debit or credit card data will have to be converted into a unique token for online, point of sale and in app transactions. In this new rule, card details will not be served on merchant or online commerce sites. The last date to implement this rule was 30 September. Earlier its deadline was June 30, which was extended to September 30. tokenization Due to this, customers will get more and more security related to their card. The possibility of card details being leaked will end.

According to the Reserve Bank, tokenization means converting the original data of a debit or credit card into a code. Here the code itself is being called the token. The card details in this token, the details of the merchant or online site on which the card is being used, will be sent to the card issuing company. After this, the card issuing company will make the complete details in the form of a code and send it to the merchant. This will be done in seconds, so the customer will not have to face unnecessary delays. RBI has given 6 steps for tokenization, whose information is given below.

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how to tokenize card

  1. start- Go to any e-commerce merchant website or app from where you want to make purchases. Initiate payment transaction here.
  2. select card– Enter the debit or credit card details already saved during checkout and also give the rest details.
  3. secure the cardThen select ‘RBI Guidelines on Secure Your Card Edge’ or ‘RBI Guidelines on Tokenize Your Card Edge’.
  4. consent to tokenOTP will be sent to your mobile phone or email from the bank, enter it and complete the transaction.
  5. generate tokenWith this your token will be generated and saved. The actual details that you have given will be converted in the form of token.
  6. tokenizedThe next time you visit the same website or app, the last 4 digits of your card will be shown. This will help you identify the card. This is tokenization.

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