Most of the people in the country will be using debit card or credit card. Any work related to money can now be done with the help of card. Cyber fraud is increasing now. The Indian Reserve Bank of India is going to make necessary changes next month to stop the growing cybercrime across the country. That means RBI is going to implement card of file tokenization system for debit card and credit card users next month. According to RBI, card holders will get more facilities and security after the introduction of this system.
આ પણ વાંચો : ગુજરાત વિધ્વા સહાય યોજના અરજી ફોર્મ અને અન્ય વિગતો
Let us tell you that these rules were to be implemented from 1 January 2022. But RBI extended the deadline by 6 months to 30 June. After that, once again the deadline has been changed to October 1, 2022. That means tokenization facility will start from next month. In such a situation, the RBI has asked to merge all credit and debit card data into one online, point-of-sale and in-app transaction and issue a unique token.
What is Tokenization?
When you use your debit or credit card for a transaction, the transaction is based on information such as the 16-digit card number, expiry date, CVV as well as a one-time password or transaction PIN. The transaction is successful only when all these details are entered correctly. Tokenization will convert the actual card details into a unique alternate code called “Token”. This token will always be unique based on the card, token requester and device.
આ પણ વાંચો : ગુજરાત મેટ્રો રેલ કોર્પોરેશન (GMRC) લિમિટેડ ભરતી 2022
Is card tokenization secure?
When card details are stored encrypted, the risk of fraud is greatly reduced. Simply put, when you share your debit/credit card information in token form, your risk is reduced.
No need to remember 16-digit debit, credit card numbers
The Reserve Bank has said that under the token arrangement there will be no need to enter card details for every transaction. RBI’s efforts to make digital payments more effective and secure will continue.
How will tokenization work?
In this arrangement your card information will be converted into a unique alternate code. Payment will be possible with the help of this code. In this process you will also need your card’s CVV number and one time password. Apart from this, consent for additional verification will also have to be given.
આ પણ વાંચો : ગામડાઓમાં રેશનકાર્ડ સેવા ઉપલબ્ધ થશે | રેશન કાર્ડ ગુજરાત
Do you have to pay this way?
During digital payment, you will be given an option to select a token number. Clicking on this will start the process of converting the relevant card information into token number. The request will be sent with your consent. After this you will be given token number instead of card number. With this you will be able to make payments. The special thing is that different token numbers will be given for the same card for different websites.
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આ પણ વાંચો : ડિજિટલ ગુજરાત શિષ્યવૃત્તિ 2022
