Here is the best of Business Standard's opinion pieces for today
For consumers, nothing has changed as token is just replacing the card details. Merchants do not have card details anymore and hence, if their sites are hacked, at best the hacker gets only the token
On Thursday, the bank launched a new one-stop solution application for merchants called the 'SmartHub Vyapar Merchant app'
Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.
industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through
The company has tokenized 52.3 million cards across VISA, Mastercard and RuPay in its effort to make card transactions safer and drive convenience for consumers.
Sticks to Oct 1 deadline for card tokenisation; acquiring banks permitted to store card-on-file data until January
The RBI had directed the merchants to implement its tokenisation norms by June 30, 2022. The central bank has twice extended the deadline of its implementation in the past.
Merchants and other entities that have stored card details of customers will have to purge the data and apply tokenisation
'The impact of tokenisation extends to the entire payment ecosystem', said Vimal Kumar