RBI wants you to fill the entire card details for every online payment

Razorpay sent the same notification yesterday and also that they are introducing tokenized payments.
 
I guess browser autofill should work 🤬
 
So how does it work
1. We fill in actual details the gateway tokenizes it?
2. Do we create tokenized cards using a bank portal and then feed in the tokenized card info into the gateway?

And I guess the gateways can store tokenized card but not the actual card
 
First time on any merchant website enter your card number and click on check mark to generate token option and after payment your card number will be saved as token number.

Bank discount offers will work on tokenization payment mode.
 
I think Wefast aka Borzo delivery has already started this. They charged me Rs. 1 at the time of placing an order and the full amount was charged automatically once the delivery was done.
 

The change will be you won't see HDFC XXXX on the merchant website but on only HDFC credit card. The merchant knows the name of the issuing bank, the variant and the token. Not sure how a merchant will ascertain if a certain card has already been used for availing the offer or not. Because the token can be revoked at any time and a new token can generated.
 
www.juspay.in

Tokenization · Juspay

JUSPAY | Revolutionizing digital payments in India.
www.juspay.in www.juspay.in

Any flow that relies on either the whole card number or partial card number of a customer, will have an impact. For example, for Offers, those offers that use a 7-8 digit Card BIN or a Card fingerprint for eligibility checks, will no longer be possible as is. Similarly, EMIs, Native OTP, 1-Click flows will also be impacted.
However, Juspay is working with Networks, PGs and Banks to ensure all major flows are compatible with token based transactions by Dec 31st 2021.
 
Samuel said:
They charged me Rs. 1 at the time of placing an order and the full amount was charged automatically once the delivery was done.
Click to expand...
This is not a tokenization payment bro.

This is called an escrow payment. 2 years back, NPCI was working with Amazon and Flipkart for Escrow like payments by UPI.
entrackr.com

NPCI to credit online payment to e-comm firms only after product delivery

NPCI, to drive its growth, is planning to bring non-adapting online users on UPI platform by creating an escrow-like mechanism with e-tailers
entrackr.com entrackr.com

Here you will get full info about what is escrow and how does it work?

What Is Escrow And How Does It Work? | Truust

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