The RBI has extended the card-on-file tokenisation deadline by six months to June 30, 2022, in view of various representations received from industry bodies.
Under RBI guidelines, e-commerce platforms such as Amazon or Flipkart won’t be able to save customers’ card details any longer. Customers will have to enter their card details every time they carry out an online transaction. However, to avoid the hassle, customers can choose to tokenise their cards. Here are 10 key takeaways on the change.