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The National Payments Corporation of India (NPCI) announced the system of tokenisation for RuPay cards to enhance the safety of card data. It said that the NPCI Tokenisation System (NTS) is to support card tokenisation as an alternative to storing card details with merchants. Further, it will enhance the customers’ safety and provide a seamless shopping experience to them. All the sensitive customer information will be stored in the form of an encrypted token to help secure transactions in accordance with RBI guidelines.
It also stated that these tokens will allow payments to be processed without disclosing the details of customers or allowing payment intermediaries to store customer data that could breach security and privacy.
Acquiring banks, aggregators, merchants and others with NTS can get themselves certified with NPCI and can play the role of the token requestor to help save the token reference number against all card numbers saved.
NPCI said that these businesses can maintain their RuPay consumer base that utilises Token Reference on File (TROF) for future transactions initiated by their respective RuPay consumers.
The fool-proof and transparent system will make sure that no customer-sensitive information is leaked. Tokenisation will also help in reducing the friction in the payment process by providing a faster check-out experience to the customers.
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