Card Tokenisation: Here’s all you need to know as RBI extends deadline for complying norms by 3 months – The Economic Times Video

The Reserve Bank of India (RBI) on Friday extended the card-on-file (CoF) tokenisation deadline by three months to September 30, 2022, in view of various representations received from industry bodies. 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.