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Fri, Jan 18, 2019 | Last Updated 5:15 pm IST

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RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India

RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
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Reportedly in the new system, nothing changes as far as the customer is concerned as you will still be swiping your debit/credit card and however, in this process, no merchant can store your original debit or credit card number. Furthermore in place of the 16 digit number on your card, a randomly generated token ID issued by your bank will be utilized. Reports added the 16 digit token which masks your actual card number, will keep changing with each transaction, and thus making it difficult for any third party to know your actual debit or credit card number.



Meanwhile customers shopping online will also be providing the generated token number instead of the actual card number. However RBI has clarified that Additional Factor of Authentication (AFA)/ PIN entry will be applicable for tokenized card transactions as well and this service is expected to be delivered free of cost as per the directions of the top banking regulator.

RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India

The guidelines state "Tokenization and de-tokenization shall be performed only by the authorized card network and recovery of original Primary Account Number (PAN) should be feasible for the authorized card network only. Adequate safeguards shall be put in place to ensure that PAN cannot be found out from the token and vice versa, by anyone except the card network”.


RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
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