Tokenisation to Add more Muscle to Existing Digital Payments System by Making it safer, faster and more seamless than ever

From purchasing tickets for that blockbuster show to dining out with family in your favourite bistro, digital transactions have become an inevitable part of everyday life.

However, the rise in digital payments has also led to a surge in cyberattacks. Several reports suggest that India registered a 290% increase in cyberattacks during 2021. Taking cognizance of this upward trend, the Reserve Bank of India introduced card-on-file tokenisation that is directed towards safeguarding the interests of both consumers and merchants in India.

While adding more muscle to the existing digital payment system and enhancing the seamless customer experience, Mastercard is working towards promoting