Nasscom makes recommendations to RBI on Card-on-File tokenisation

BIN ranges are required to identify if EMI is supported by a card network or not. BIN ranges also help in identifying routing of a transaction.

Providing a tiered timeline to merchants for compliance and allowing them to store the first few digits of a card (BIN range) to ascertain the network, issuer, card type, are among the key suggestions made by industry body National Association of Software and Services Companies to the Reserve Bank of India on facilitating compliance with Card-on-File Tokenisation (CoFT). 

"The RBI circular dated September 07, 2021, allows storing limited data – last four digits of actual card number and card issuer’s name – for transaction tracking and reconciliation purposes. Merchants require first few digits of a card (BIN range) to ascertain the