{"id":269111,"date":"2022-06-27T15:15:24","date_gmt":"2022-06-27T09:45:24","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=269111"},"modified":"2022-06-27T14:58:45","modified_gmt":"2022-06-27T09:28:45","slug":"rbi-encourages-cardholders-to-tokenize-their-cards-for-their-own-safety-extends-card-tokenisation-deadline-by-three-months","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/27\/rbi-encourages-cardholders-to-tokenize-their-cards-for-their-own-safety-extends-card-tokenisation-deadline-by-three-months\/","title":{"rendered":"RBI encourages cardholders to tokenize their cards for their own safety; Extends card tokenisation deadline by three months"},"content":{"rendered":"

The Reserve Bank of India (RBI) has extended the deadline for tokenisation of debit and credit cards by another three months to September 30, 2022. The RBI had earlier set a deadline of June 30, whereby merchants and payment aggregators had to delete all card details and replace it with tokens.<\/p>\n

The framework for CoF Tokenization (\u2018CoFT\u2019) Tokenization was mandated by the RBI as an alternative to card storage. According to this framework, cardholders can create Tokens\u201d in lieu of card details and then these tokens can be stored by the merchants for processing the transactions in future. Hence, this system is also as convenient for the cardholders. This framework is safer as the card details are not shared with merchant.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Reserve Bank of India (RBI) has extended the deadline for tokenisation of debit and credit cards by another three months to <\/p>\n","protected":false},"author":67011,"featured_media":253309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[49882,2611,47346,49881],"class_list":["post-269111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news","tag-cards","tag-RBI","tag-timeline","tag-tokenisation"],"yoast_head":"\nRBI encourages cardholders to tokenize their cards for their own safety; Extends card tokenisation deadline by three months | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/27\/rbi-encourages-cardholders-to-tokenize-their-cards-for-their-own-safety-extends-card-tokenisation-deadline-by-three-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI encourages cardholders to tokenize their cards for their own safety; 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