Supreme Court Awards Rs. 6 Lakh to Man Acquitted After 6 Years, Faults UP Police Probe  ||  Supreme Court: High Courts Can Restore Power on 50% Deposit in Arbitrary Theft Assessments  ||  Supreme Court: Cooperative Society Cannot Deny RTI Records as Personal if Registrar Can Access Them  ||  SC: CoC Cannot Withdraw Approved Resolution Plan Over Improved Corporate Debtor Finances  ||  Delhi High Court: 24-Week Limit Alone Cannot Restrict Medical Termination of Pregnancy  ||  Allahabad High Court Rejects Challenge to 18% GST on Online Legal Database Services  ||  Madras High Court: FIR Registration Does Not Decide Guilt; Prior Hearing of Accused Not Required  ||  Kerala High Court Orders Speedy Prosecution Sanction Process in Sabarimala Gold Theft Case  ||  Allahabad HC: Missing RT-PCR Report Cannot Bar COVID-19 Compensation if Records Confirm Infection  ||  MP High Court Directs Indore Police to Deploy Volunteers for Reporting Noise Pollution Violations    

Restriction on storage of actual card data- (Reserve Bank of India) (23 Dec 2021)

MANU/RMIC/0161/2021

Banking

1. In terms of our circular DPSS.CO.PD.No.1810/02.14.008/2019-20 dated March 17, 2020 on "Guidelines on Regulation of Payment Aggregators and Payment Gateways", the authorised non-bank payment aggregators and merchants on-boarded by them were prohibited from storing card data (CoF) from June 30, 2021. At the request of industry stakeholders, this timeline was extended to December 31, 2021 vide circular CO.DPSS.POLC.No.S33/02-14-008/2020-2021 dated March 31, 2021. Further, regulations on CoF Tokenisation (CoFT) were issued vide circular 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".

2. In light of various representations received in this regard, we advise as under:

a. the timeline for storing of CoF data is extended by six months, i.e., till June 30, 2022; post this, such data shall be purged; and

b. in addition to tokenisation, industry stakeholders may devise alternate mechanism(s) to handle any use case (including recurring e-mandates, EMI option, etc.) or post-transaction activity (including chargeback handling, dispute resolution, reward / loyalty programme, etc.) that currently involves / requires storage of CoF data by entities other than card issuers and card networks.

3. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Tags : RESTRICTION   STORAGE   CARD DATA  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved