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Thank you, sir. 🟨What is tokenisation? Tokenisation refers to replacement of actual card details with an alternate code called the “token”, which shall be unique for a combination of card, token requestor and device. ▶The card holder can get the card tokenised by initiating a request on the app provided by the token requestor. The token requestor will forward the request to the card network which, with the consent of the card issuer, will issue a token corresponding to the combination of the card, the token requestor, and the device. 🟢 What is the benefit of tokenisation? Ans. A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing.
One can tokenize and detokenize his card at their own convenient time. A card need to tokenized once for a particular ecommerce merchant. Can be tokenized by one time registeration with merchant website or app. No need to remember any card or token details. The merchant will be able to verify using the last four digit of the token. Benefits : Safe secure seemless convenient way Implemented from oct 1 2022 for all credit and debit cards. Only for online oblique e commerce transactions not for face-to-face or point of sale transactions
If we see UPI payment is also good than tokenisation .. In UPI we have to only register once with our mobile and remember the 4 digit pin .whenever we do transactions.
Sir i have a doubt if different e comrce pr ek alg token no. Hoga to itne sare token yd krne honge fir to confusuion create hoga kyuki hm no. Of wbsit ya site pr deal krte h Kya mera doubt shi h ya mne glt smjha h