Tokenisation for online payments

As per the guidelines issued by Reserve Bank of India (RBI) (Circular CO.DPSS.POLC.No.S-1211/02-14-003/2021-22) on card data storage by online merchants, payment aggregators & ecommerce websites; the Credit, Debit & Prepaid Card details will no longer be stored on the merchant app/websites. In order to enhance the customer experience and facilitating the use of digital payment products in a more safe and secure manner, ‘Card tokenisation’ has been introduced.

Card tokenisation is a method wherein the sensitive customer data like card number, CVV, etc. is replaced with an algorithmically encrypted token generated by the card issuer or the payment network (Visa/ MasterCard/ Rupay). These tokens pass through the payment systems without disclosing the customer details or allowing the merchants, payment aggregators, etc. to store any kind of sensitive customer data.

So, secure your Kotak Credit, Debit & Prepaid Card, using the below mentioned easy steps:

Visit your online merchant's website/ app
Choose the product you want to buy
Select Kotak Bank Credit/ Debit/ Prepaid Card at checkout or enter your Kotak Bank Card details
Select ‘securely save your card’
After successful authentication, your card is now secure and you can pay conveniently without entering your card details every time.

Frequently Asked Questions

What is tokenisation for credit cards?

Want to know what is tokenisation for credit cards? Well, it is the process of converting credit card details into a random unique number with no value for fraudsters if they access it.

Is credit card tokenisation mandatory in India?

From 1 October 2022, the RBI has directed all payment wallets, online merchants, and aggregators to tokenise sensitive customer card-related information instead of storing it in their database.

Is it safe to Tokenise credit cards?

Tokenisation is one of the safest ways of securing a credit card and sensitive information related to the cardholder. After converting credit card details into unique codes, fraudsters cannot access and use them for malicious purposes.

How do I Tokenise my credit card data?

The customer does not need to do anything to tokenise their credit card data.

Once they enter their credit card details when paying an online merchant, the payment processor will automatically tokenise the details to safeguard them before transferring.

What Is Tokenisation Payment?

Tokenisation payment means securing payment by converting the credit card details into unique codes useless to fraudsters trying to steal identity or money during the transaction.

How do I use tokenisation for payment?

There are no steps involved in using tokenisation for a payment. The payment processor automatically tokenises the data to protect it against theft or fraud.

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Tokenisation using Kotak Cards