RBI extends deadline for card tokenisation till 30 Sept
- Currently, many entities, including merchants, involved in an online card transaction chain store card data like card number, expiry date, etc. Card-on-File (CoF) citing cardholder convenience and comfort for undertaking transactions in future.
The Reserve Bank of India (RBI) on Friday extended the timeline for tokenisation of debit and credit cards by another three months till September 30, 2022. The decision was made in consultation with the stakeholders and to avoid disruption and inconvenience to cardholders. Earlier the due date for card tokenisation was set on June 30, 2022.
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