Published On: 24 Jun 2022
Effective July 1, RBI would be implementing the tokenisation rule for debit and credit cards. As per the new rule, online merchants will not be able to store the customer's credit card or debit card details in their system. This move is implemented in order to protect customer privacy.
Instead, a card-on-file (CoF) tokenisation will be adopted when making online domestic transactions. Most customers who make frequent transactions online might have already received the notification from various online merchants to tokenise their card. In case you haven't tokenised your debit or credit card yet, below we have listed the steps for the same
It is not mandatory for a customer to get his card tokenised online. However, if the customer does not opt for getting his card tokenised at his/her frequented online merchant, he/she will have to manually add all the card-related details every time when making online purchases.
No charges are applied to get your credit card or debit card tokenised. Moreover, the request for card tokenisation will only be processed after getting the customer’s consent.
The Bajaj Finserv RBL Bank SuperCard offers you unlimited benefits of a credit card coupled with additional rewards. You can use it on diverse platforms, shop with it in a single swipe, use it to withdraw cash without paying any interest, and save more on each transaction.
Axis Bank brings to you an amazing range of Credit Cards offer benefits from lifestyle to travelling, dining and much more. You can conveniently pay your utility bills, get great discounts on online shopping, grab extra movie tickets and much more.
SBI Card presents a wide range of credit cards designed specially to suit the financial needs of the cardholders. This exciting range of various Credit Cards is now available at Finserv MARKETS in just a few simple clicks.
Citibank brings to you a wide range of credit cards that suit your needs perfectly. Whether you want to travel or save big on your daily spends, you can always find the perfect Citibank Credit Card for your needs. Read the features and benefits of each credit card here at Finserv MARKETS, compare and apply for the best credit cards from Citibank.
ICICI Bank is here to offer you a wide range of credit cards that are designed as per your requirements. Enjoy great benefits, discounts, rewards, and more with the ICICI Bank credit cards. Compare each of them here on Finserv MARKETS and apply for the one that suits your needs the best.