New RBI Guidelines to make your Debit & Credit Card usage safer: You all should know that the RBI has issued some new guidelines to make the safer transactions. Reports are coming that the RBI has notified other banks to be prepared for the new guidelines. Overall, the Reserve Bank of India has taken a major step to tokenise debit, credit and prepaid transactions in order to make such service more secure. We are going to write down the RBI new guidelines here.
Also, you all might know that the new guidelines on tokenisation of debit/credit card payments have been released in this January 8. Some sources are indicated that the RBI is quite serious about the online security. Also, they will give customers a new option to not share their original card number. Yes! This is what going to happen now. You all can be secure now and the major card networks such as Mastercard and Visa will now be able to offer card tokenisation services.
We think that the cardholder is going to feel safe now. Also, you all are going to use the new number which will not reveal your original numbers. Also, the reports are coming that No charges shall be recovered from the customer for availing this service. We think that everything is going to be happening rightfully and you all are going to love the new service. We think that the RBI is quite serious about this whole thing.
As per the reports, tokenisation involves a process in which a unique token, issued by the bank for using the same card number. This token is used to perform card transactions in contactless mode at Point Of Sale (POS) terminals, Quick Response(QR) code payments, etc. Also, the reports are coming that the permission to tokenise cards is a huge step towards enhancing security of debit and credit cards.