The Reserve Financial institution of India (RBI) on Friday prolonged the card-on-file (CoF) tokenisation deadline by three months to September 30, 2022, in view of varied representations acquired from business our bodies. Card-on-file, or CoF, refers to card info saved by cost gateway and retailers to course of future transactions. Tokenisation is the method of changing precise card particulars with a singular alternate code referred to as ‘Token’ – thereby enabling safer transactions.
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