Visa launches India’s first Card-on-File tokenization service for merchants

The RBI’s recent CoF tokenization guidelines mandate replacing the actual card data with encrypted digital tokens, which are then used to facilitate and authenticate transactions. This devaluation of sensitive card details alleviates risk and reduces vulnerability of sensitive data, as only tokens are present in transit, across the ‘in-rest’ and ‘in-use’ phases.

from Banking/Finance-Industry-Economic Times https://ift.tt/3uNAGBb