Home Money How to Tokenise Debit Card Credit Card?

How to Tokenise Debit Card Credit Card?

tokenise debit card credit card

The central bank i.e. RBI has extended the date for tokenise debit card, credit card to 30th September 2022. However, the Reserve Bank of India has been notifying the users about completing the process as soon as possible. There are various campaigns run by the RBI to promote tokenization of Debit card, credit card.

What is Tokenise Debit Card Credit Card?

As per the RBI, “Tokenisation is the replacement of your actual card details with an alternate code called “token”. The token will be a unique combination of card number and device from which the request has been made. It is advisable to tokenise your card while making online payment to prevent fraudulent transactions. The registration of tokenization is only done with the user consent and through Additional Factor Authentication (AFA).

The recent tweet from RBI is showing a six steps guideline for tokenise debit card, credit card. It is not mandatory to tokenise your debit card, credit card but it is advisable to tokenise your card to protect it from the online fraud.

How to Tokenise Debit card, Credit card?

Here is the step-by-step guideline to tokenise debit card & credit card.

  • Go to any of the e-commerce website, select the item you wish to buy.
  • Go to the check out page and start the payment process.
  • Enter your debit card or credit card details on the payment page and process further.
  • Click on the option “Secure your card” OR “Save your card as per RBI guideline”.
  • You will receive the OTP, enter that OTP on the payment page.
  • Your unique token will be generated and saved instead of your actual debit or credit card number.
  • On your next transaction on the same website, you will see the last 4 digit of your debit or credit card as the same has been tokenised.
Image credit: truust.io

FAQs : Tokenise Cards

It is mandatory to tokenise the debit or credit card?

No, it is optional. However, it is advisable to tokenise your card to prevent fraudulent transaction.

Is there any charge I have to pay for tokenization?

No, the facility is completely free of cost. No bank or the merchant can charge anything for this facility.

Can I tokenise my card on international transaction?

No, the facility is available only for domestic transactions.

Is there any transaction limit for tokenization?

Yes, the user will be given a choice of amount as a limit for tokenization.

Can I add multiple card on the same website and tokenise?

Yes, you can add any number of cards on the website for tokenization.

What will happen to my token if my card gets expired?

Well in that case, you will have to enter the new card details on the website and delete the expired one.

Conclusion:

This is a good step by RBI for preventing online fraudulent transactions and safe guard card details online. I have done my credit card tokenise on Amazon’s website. I will also keep on adding other sites as and when I will use them. Have you done any tokenization? if yes, please share your experience in the comment box below.

Please share this article to your friends and family.

Previous articleHow to Activate SBI WhatsApp Service?
Next articleHow to Generate UAN directly?
Vishal Jhaveri is an avid finance blogger with vast experience in various financial markets like Stocks, Mutual Funds, Insurance, and Personal Finance. He believes that personal finance is a subject we aren’t taught in our schools. Earning is important to have a good sustainable life for yourself and your family. but you must acquire financial knowledge to create real wealth. Disclosure: All content provided on this website is for informational and educational purposes only and is not meant to represent trade or investment recommendations.

NO COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exit mobile version