New Delhi: From July 1 onwards, online merchants will not be able to store customers’ card data.
The card tokens will be stored as an encrypted “token” to help customers make their transactions secure. These tokens will also allow payment to be made without disclosing any details of the customer. The RBI in its guidelines has made it mandatory to replace the original card data with an encrypted digital token.
Now from July 1, 2022, online merchants will have to delete customers’ debit and credit cards’ data from their records.
Keeping in mind the customers’ safety, the Reserve Bank of India (RBI) had last year issued debit and credit card tokenisation rules. As part of the new rules, the merchants were barred from storing customer card data in their servers.
In the guidelines, the central bank had made the adoption of card-on-file tokens for domestic online purchases mandatory. The deadline for the adoption of card tokens was extended from January 1, 2022, to July 1, 2022.
Puri: Repair work of Shree Jagannath temple's Ratna Bhandar in pilgrim town of Puri will…
Bhubaneswar: A 20-year-old married woman, allegedly kidnapped from Odisha's Nabarangpur and then raped, and held…
New York: Slamming the prolonged delays in some parts of United States, Elon Musk on…
Cuttack: Madhupatana Police recently rescued a 17-year-old Bangladeshi girl, a suspected victim of trafficking and…
Mumbai: With the Bharatiya Janata Party (BJP), Shiv Sena and the NCP alliance emerging victorious in…
Balasore: The driver of a container truck was charred to death after the vehicle caught…
Nuapada: At least 80 people were arrested during a massive crackdown on illegal gambling activities…
Bhubaneswar: The Odisha government has transferred Special Secretary, Planning and Convergence, Chitra Arumugam and posted…