Online transactions are rapidly being done and thanks to our Government for making digital India so fast and secure. I believe it is better to opt for digital transactions than to carry liquid cash. I might also have the risk of losing the money but in online transactions, the risk is far lesser. I hope you understand what is debit card tokenization. It is the process of replacing a 16 digit customer card number with a non-sensitive equivalent which is called a token. The process of work is the same for credit card tokenization as well.
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Is a tokenized card secure for transaction?After getting an idea about what is card tokenization, you must have a doubt whether it is safe or not. Let me tell you that it is very much safe and secure. A tokenized card transaction is safer as the card details are not revealed or shared with the merchants while opting for the transaction. It also makes it easy to input your complete card details each time.
Has RBI made it mandatory to replace the original card with a digital token?I was not sure about it myself but when I asked my father about it, he said yes. RBI guidelines make it compulsory to replace original card data with an encrypted digital token so I would suggest you to ask the officials of the bank once personally.
I hope I have made the
debit card tokenization quite clear to you now.
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Debarati
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2022-06-24T09:27:57+00:00 2022-06-24T09:27:58+00:00Comment
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