New rules for credit and debit cards | RBI new rules | Tokenization rule by RBI | Tech Thread
This video covers about the new rules for credit and debit cards by RBI. Tokenization will bring a major impact on future transactions.
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Tokenization rules have come into effect from October 1 and during September, 40 percent of transactions have been done with tokens. Tokenization is the concept of hiding credit or debit card details from the merchant or from the receiver during transactions and replaced by tokens. This ensures the data security of the user's card details. This rule can be applied by the user if needed and is not compulsory.
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