PhonePe, India’s leading digital payment platform, announced on Tuesday that its SafeCard tokenization solution for online businesses will enable end users to experience the convenience of secure stored card transactions.
This solution complies with recent RBI guidelines.
PhonePe SafeCard allows businesses to offer tokenization on their own platform through simple API integration. The solution allows businesses to create, process, delete and modify tokens for online card payments with the consent of their customers, the company said in a statement.
PhonePe SafeCard works smoothly across all major card networks, including Mastercard, RuPay and Visa, improving the customer experience and saving significant business time and effort.
It also eliminates the need to integrate with multiple card networks.
PhonePe SafeCard gets off to a better start than its competitors by leveraging access to tokenized cards from millions of PhonePe customers to give businesses an edge. PhonePe also handles additional authentication for the user, if desired.
According to the company, “We provide customers with a smooth and hassle-free experience through login and payment with additional features. Merchants are dedicated to PCI-DSS (Payment Card Industry-Data Security Standard) compliant environments. Get a secure vault. “
In addition, transactions on the Merchant Platform can be processed using any payment gateway of your choice, but you have the flexibility to process transactions at the payment gateway of your choice.
PhonePe said it is actively working with the large foundations of online business to improve the customer experience by adopting PhonePe SafeCard.
The company processed over 2 billion transactions on the platform in October this year alone.
PhonePe's "SafeCard" makes it easy for businesses to implement tokenization
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