PhonePe is first payments firm to tokenise cards on Visa, Mastercard, Rupay

The company claims the tokenisation solution will help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI norms

Walmart-owned digital payments firm PhonePe, said it has become the first payments platform to tokenise cards on all three major payment networks - Visa, Mastercard and Rupay. PhonePe’s tokenisation solution will help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI guidelines.

“We are delighted to be the first payments platform to offer card tokenisation across all 3 major card networks in the country - Visa, Mastercard and Rupay,” said Deep Agrawal, head of Payments, PhonePe. “This is a significant milestone for us and will benefit millions of our merchant