NPCI unveils NTS platform for Card tokenization

NPCI

National Payments Corporation of India (NPCI) has launched NPCI Tokenization system (NTS) to support tokenization of cards as an alternate to storing card details with merchants. The NPCI Tokenization System (NTS) will support the tokenization of RuPay cards to further enhance the safety of customers and provide a seamless shopping experience to consumers.

Based on the set of guidelines that have been mandated by the RBI, sensitive customer information is to be stored in the form of an encrypted ‘token’ to help secure transactions. These tokens then allow payments to be processed without disclosing the customer details or allowing the payment intermediaries to store customer data that could breach security and privacy.

Huawei

NPCI’s Token Reference On File (TROF) service will help millions of RuPay cardholders, maintain the security of their financial data. The card details of the customers will be completely safe & secure at the RuPay Network Secure vault.

Also Read: NPCI launches hackathon to find alternative UPI authentication modes

Kunal Kalawatia, Chief of Products, National Payments Corporation of India said, “RBI’s guidelines on Card Tokenization is to enhance the safety of the digital payments ecosystem in the country. We are confident that NPCI Tokenization System (NTS) for tokenization of RuPay cards will instill further trust in the millions of RuPay cardholders to carry out their day-to-day transactions securely. We believe that this unique Card-on-File Tokenization solution will not only safeguard customers’ confidential data but will also further strengthen the overall digital payments environment.”

mouse
mouse

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.