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DH Deciphers | What is the tokenisation system?DH takes you through this as the deadline comes close
Chaitanya Netkalappa
Last Updated IST
Credit: Reuters File Photo
Credit: Reuters File Photo

The Reserve Bank of India (RBI) had in June extended the card-on-file (CoF) tokenisation deadline by three months to September 30, 2022.

Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions. Tokenisation is the process of replacing actual card details with a unique alternate code called 'Token' - thereby enabling more secure transactions.

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(Published 26 September 2022, 06:49 IST)