{"id":130173,"date":"2021-08-31T18:07:41","date_gmt":"2021-08-31T12:37:41","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=130173"},"modified":"2021-12-23T12:26:10","modified_gmt":"2021-12-23T06:56:10","slug":"rbi-permits-card-tokenization-services-in-a-bid-to-make-card-transactions-more-safe","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/rbi-permits-card-tokenization-services-in-a-bid-to-make-card-transactions-more-safe\/","title":{"rendered":"RBI permits card-tokenization services in a bid to make card transactions more safe"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">This post is based on the article \u201cRBI permits card tokenization services\u201d published in AIR on 26th August, 2021.<\/span><\/p>\n<p><b>What is the News?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Reserve Bank of India has permitted authorised card networks to offer card tokenization services to any token requestor in a bid to make card transactions more safe, secure and convenient for the users.\u00a0<\/span><\/p>\n<p><b>What is Tokenization?<\/b><\/p>\n<ul>\n<li><b>Tokenization<\/b><span style=\"font-weight: 400;\"> refers to the replacement of actual card details with an alternate code called the \u201ctoken\u201d.<\/span><\/li>\n<li><b>The token <\/b><span style=\"font-weight: 400;\">will be unique for a combination of card, token requestor (the entity which accepts the request from the customer for tokenization of a card and passes it on to the card network to issue a corresponding token) and device.\u00a0<\/span><\/li>\n<\/ul>\n<p><b>How is the Tokenization process different?<\/b><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-130174 \" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=610%2C308&#038;ssl=1\" alt=\"Tokenisation\" width=\"610\" height=\"308\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?w=1810&amp;ssl=1 1810w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=300%2C151&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=1024%2C517&amp;ssl=1 1024w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=768%2C388&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=1536%2C776&amp;ssl=1 1536w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2021\/08\/tokenisation.jpg?resize=1568%2C792&amp;ssl=1 1568w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/p>\n<p><b>Benefits of Tokenization:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A tokenized card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: This post is based on the article \u201cRBI permits card tokenization services\u201d published in AIR on 26th August, 2021. What is the News? The Reserve Bank of India has permitted authorised card networks to offer card tokenization services to any token requestor in a bid to make card transactions more safe, secure and convenient&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/rbi-permits-card-tokenization-services-in-a-bid-to-make-card-transactions-more-safe\/\">Continue reading <span class=\"screen-reader-text\">RBI permits card-tokenization services in a bid to make card transactions more safe<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[9433,3572,394],"class_list":["post-130173","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-card-tokenization-services","tag-monetary-policy","tag-rbi","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/130173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=130173"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/130173\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=130173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=130173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=130173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}