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

[mikrotik]

PayU becomes fully certified token requestor and token service provider for Mastercard and Visa - Elets BFSI

PayU, leading online payments solutions provider, announced that it has been fully certified by Mastercard and Visa as a token requestor and token provider. After achieving this certification, PayU will now have the ability to act as token requestors on behalf of merchants. As a token service...

bfsi.eletsonline.com

 

[Sushubh]

Google announces changes for automatic payments in India after RBI rules: Here’s what to do

Google has informed users that from January 1, 2022, it will not be able to save customer card details like card number and expiry date in the current format.

indianexpress.com

 

[Abhishek012]

NPCI launches NTS platform for tokenization of RuPay cards

NPCI’s Token Reference On File (TROF) service will help millions of RuPay cardholders maintain the security of their financial data.

www.financialexpress.com

 

[Sushubh]

Hello,

You are receiving this email because you currently have a credit/debit card as your default payment method for your AWS invoices.

Due to regulatory changes in India, starting December 15, 2021, you will not be able to save cards in your AWS account. Also, you will not be able to use any previously saved cards to make payments. AWS will not have access to your previously saved cards.

To make payments with cards, you will need to go to the “Orders and Invoices” page, select the invoice to pay, and enter your card details to complete the payment.

Sincerely,
Amazon Web Services

 

[Abhishek012]

Recurring payment will also work through tokenization mode. Just save your card on token mode and payment will automatically deducted from your card. I don't know why Google, AWS etc said you have to pay manually.

 

[Sushubh]

Yes. Because RBI coded the tech and deployed it on all payment systems around the world.

 

[Abhishek012]

NASSCOM urges RBI to enforce card-on-file-tokenisation in phases

NASSCOM said the industry agrees that CoFT is an effective measure to protect customer information, however, they are concerned about the implementation and operational challenges it presents before them

www.livemint.com

 

[Jonas]

What better way to prevent fraud. Kill the feature. I wonder what possible options we would be left in case of fraudulent charges in the future, because the accountability will be solely ours.

 

[Abhishek012]

Confident all major merchants on our platform will go live with tokenisation before deadline kicks-in: Razorpay CEO

Harshil Mathur says the firm’s goal is to be a full-stack financial services company

www.thehindubusinessline.com

 

[socrates]

HDFC Bank is sending this sms now

Effective 1st Jan'22!

Your HDFC Bank card details saved on Merchant Website/App will get deleted by the merchants as per the RBI mandate for enhanced card security.

To pay each time, enter full card details or opt for tokenisation.

Know more hdfcbk.io/k/Aci4gdiFmVZ

T&C