Fill in the following details to e-mail
To
Cc
Subject
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Reserve Bank of India <br /><br /> Card-on-File Tokenisation (CoFT) - Enabling Tokenisation through Card Issuing Banks<br /><br /> MANU/RMIC/0130/2023 - (20 Dec 2023)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>1. The card tokenisation services are being currently provided by card issuers and card networks in terms of Reserve Bank of India circulars DPSS.CO.PD No.1463/02.14.003/2018-19 dated January 8, 2019 on "Tokenisation - Card transactions", CO.DPSS.POLC.No.S-516/02-14-003/2021-22 dated September 07, 2021 on "Tokenisation - Card Transactions: Permitting Card-on-File Tokenisation (CoFT) Services" and CO.DPSS.POLC.No.S-567/02-14-003/2022-23 dated June 24, 2022 on "Restriction on Storage of Actual Card Data [i.e. Card-on-File (CoF)]".<br><br> 2. As announced in the Statement on Development and Regulatory Policies dated October 6, 2023, it has been decided to enable CoFT directly through card issuing banks / institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process. <br><br> 3. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : CoFT, Tokenisation, Banks</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>