New Delhi: The Reserve Bank of India (RBI) has made it mandatory for all credit and debit card data used in online, point-of-sale, and in-app transactions to be replaced with unique tokens by September 30 this year. This added layer of security by way of tokenisation is expected to enhance users' digital payment experience.
The deadline was extended multiple times over the past two years at the request of stakeholders and most recently by three months starting July so that the additional time period may be utilised by the industry in facilitating all stakeholders to be ready for handling tokenised transactions.
