Mumbai: The National Payments Corporation of India (NPCI) has announced the launch of the NPCI Tokenization System (NTS), which supports card tokenization instead of storing card details in merchants. The NPCI Tokenization System (NTS) supports RuPay card tokenization to further enhance customer security and provide consumers with a seamless shopping experience.
Based on a set of guidelines mandated by the RBI, customer sensitive information is stored in the form of encrypted “tokens” to assist in secure transactions. These tokens allow payments to be processed without disclosing customer details or storing customer data that could compromise security and privacy for payment intermediaries.
NPCI’s Token Reference On File (TROF) service helps millions of RuPay cardholders keep their financial data secure. Customer card details are completely secure with the RuPay NetworkSecure Vault. With NTS, acquisition banks, aggregators, merchants, etc. can be NPCI certified and act as token requesters to store token reference numbers (token references on files) for all stored card numbers. increase. All of these companies can leverage TROF to maintain their RuPay consumer base for future transactions initiated by their respective RuPay consumers.
This absolutely reliable and transparent system keeps your sensitive information private. In addition to increasing security, tokenization also helps reduce friction in the payment process by providing customers with a quick checkout experience.
Kunal Kalawatia, Product Manager, National Settlement Corporation of India, said: “RBI’s guideline for card tokenization is to strengthen the security of the domestic digital payment ecosystem. The NPCI Tokenization System (NTS) for RuPay card tokenization ensures the secure execution of daily transactions. We are confident that we will instill more trust in millions of RuPay cardholders. This unique Card-on-FileTokenization solution not only protects sensitive customer data, but also enhances the entire digital payment environment. I believe it will be strengthened. “
NPCI Announces NTS Platform for Card Tokenization – India Education | Latest Education News | Global Education News
Source link NPCI Announces NTS Platform for Card Tokenization – India Education | Latest Education News | Global Education News