Supreme Court Lays Down Principles Governing Joint Trials in Criminal Cases under CrPC and BNSS  ||  Karnataka HC: Person Joining Festivals of Another Religion Does Not Violate Rights  ||  Himachal Pradesh High Court: Recovery of Money without Proof of Demand Is Not Bribery  ||  Kerala HC: Cognizance Of Rape u/s 376B IPC Needs Complaint by Separated Wife, Not on Police Report  ||  J&K&L HC: Dealership & Lease Agreements Are Separate Contracts and Disputes Must Be Filed Separately  ||  Calcutta High Court: Unemployment Does Not Excuse Able-Bodied Husband from Maintaining His Wife  ||  Ker. HC: Violating the Procedure for Sampling Contraband u/s 53A of Abkari Act Vitiates Prosecution  ||  Delhi High Court: Students with Less Than 75% Attendance Cannot Contest DU Student Union Elections  ||  Delhi High Court: UGC Cannot Debar a University from PhD Admissions under UGC Act  ||  Delhi High Court: MCD's Higher Property Tax on Luxury Hotels Not Arbitrary    

Card-on-File Tokenisation (CoFT) - Enabling Tokenisation through Card Issuing Banks- (Reserve Bank of India) (20 Dec 2023)

MANU/RMIC/0130/2023

Banking

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)]".

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.

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 : COFT   TOKENISATION   BANKS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved