1. What is tokenisation?
In accordance with the new RBI Guidelines (available at: https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12159&Mode=0) , no merchant is permitted to store any user’s card details except for the last four digits of the card and the card issuer’s name. The rest of the details are to be replaced with an alternate code, called a “token”.
2. Why should I tokenise?
A tokenised card is safer as the Merchant will not have any access to the card details of the users.
3. Is it mandatory for me to tokenise my card?
No, you may choose whether you want to get your cards tokenised or not. Starting from October 1, 2022, if you do not tokenise, you will have to re-enter your card details (from your card number to the CVV) every time you make a transaction.
4. Is there a limit on the number of cards that I can tokenise?
No, there is no limit on the number of cards that you can tokenise.
5. Will one token be applicable to all of my saved cards?
No. A token is a unique combination of the card, the token requester and the merchant. You will have to tokenise each card.
6. What will happen to the token once my card gets replaced or renewed or reissued or upgraded?
You will have to provide consent for re-tokenisation of each renewed or replaced card.
7. Will I have to re-enter my card details every time I want to use my card for a transaction?
If you do not use the tokenisation service, you will have to re-enter your card details every time you want to make a transaction.
8. How will this affect my previously added cards?
In order to continue using the cards details for which have been previously added, you must give your consent for us to undertake tokenisation of the same. If you do not, you will have to re-enter the details for even the cards you were previously using.
9. Will this be applicable for credit as well as debit cards?
Yes.
10. Can I select which card to be used in case I have more than one card tokenised?
Yes, you may transact using any of the cards tokenised with us.
11. Do I need to pay additional charges for tokenisation?
No, you shall not be required to pay any additional charge for the tokenisation process.
12. How will I identify my cards once tokenisation has been undertaken?
You will still be able to view the last four digits of each of the cards that have been tokenised.
13. Is this applicable for international transactions as well?
No. The guidelines apply to only domestic transactions.
14. Will the Add-On card holder also need to tokenise his/her card, in case I have already tokenised the primary card?
Yes, the Add-On card holder will need to tokenise his/her card separately.
