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Card Tokenization: Debit and credit card rules will not change from July 1, Deadline extended till 30th September, 2022, see details

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Card Tokenization: If a customer agrees to do card tokenization, then he/she will have to enter only CVV and OTP details while doing the transaction. In case the customer has not given consent for card tokenization, they will have to enter all the card details every time they make an online payment.


New Delhi. The Reserve Bank of India (RBI) has extended the deadline for the implementation of the Card Tokenization System to September 30, 2022. This deadline was earlier June 30, 2022.

What is Card Tokenization

Under tokenization, a unique alternate code ie token is generated for transactions through the card. These tokens will allow payment to be made without disclosing customer details. The purpose of the tokenization system is to prevent online banking fraud. If you do not tokenize your card by September 30, 2022, the debit or credit card saved on the online store will be deleted. Although card tokenization is not mandatory, it makes it easy to make repeated purchases or payments from the same website or app.

What is going to happen from 1st October?

After 30 September i.e. from 1 October 2022, the merchant will have to delete the customer’s debit and credit card data. This means that if customers do not consent to card tokenization, they will have to enter all their card details like name, card number and card validity instead of entering the card verification value (CVV) every time they make an online payment. Will have to do On the other hand, if a customer agrees to tokenize the card, he/she will only have to enter the CVV and OTP details while making the transaction.

How to Tokenize Credit and Debit Cards

>> Payment for purchase of goods or services by visiting the preferred shopping website/app.
>> Select your preferred card payment option at checkout and enter CVV details.
>> After this click on “Secure your card” or “Save card as per RBI guidelines”.
>> Tap on Save and Enter OTP.
>> After this your credit or debit card will be tokenized.

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