RBI introduce CoF token creation facilities directly at the issuer bank level

By

RBI introduced Card-on-File Tokenisation (CoFT) in September 2021 and began implementation from October 1, 2022. So far, over 56 crore tokens have been created on which transactions with value of over Rs. 5 lakh crore have been undertaken. Tokenisation has improved transaction security and transaction approval rate. At present, Card-on-File(CoF) token can only be created through merchant’s application or webpage. It is now proposed to introduce CoF token creation facilities directly at the issuer bank level. This measure will enhance convenience for cardholders to get tokens created and linked to their existing accounts with various e-commerce applications. Instructions in this regard will be issued separately.

Reference:

RBI Press Release Dated Oct 06, 2023

Previous Article:

<<< Device based Tokenisation – Card Transactions

Comments

Post a Comment

Popular posts from this blog

Russian parliament passed a bill to revoke its ratification of the Comprehensive Test Ban Treaty

By
Relevance:  Russia revokes ratification of nuclear test ban treaty (CTBT) - ICAN But it affirmed that it will  retain its cooperation with the treaty’s verification system and implementing organisation.  Comprehensive Test Ban Treaty: The Comprehensive Test Ban Treaty (CTBT), which opened for signature in 1996, was intended to prohibit all nuclear weapon test explosions. Over 2,000 nuclear tests occurred between 1945 and 1996: the United States (1,000+), the Soviet Union (700+), France (200+), the United Kingdom and China (45 each). As at January 2013, 183 countries had signed the Treaty, of which 158 have also ratified it, including three of the nuclear weapon states (France, the Russian Federation and the United Kingdom). However, 44 specific nuclear technology holder countries must sign and ratify before the CTBT can enter into force. Of these, eight are still missing: China, Egypt, India , Iran, Israel, North Korea, Pakistan and the US. India , North Korea and Pakista...
Read more

Interstellar space and Interstellar Probes ( Voyager and New Horizons Missions )

By
Interstellar Space: Interstellar space is often called the space between the stars, but more specifically, it’s the region between our Sun’s heliosphere and the astrospheres of other stars. Our heliosphere is a vast bubble of plasma – a gas of charged particles – that spews out of the Sun. This outflow is known as the solar wind. The bubble surrounds the Sun and stretches beyond the planets. Both Voyager spacecraft had to travel more than 11 billion miles (17 billion kilometers) from the Sun in order to cross the edge of the heliosphere. This bubble is moving through interstellar space as the Sun orbits the center of the Milky Way galaxy. As our heliosphere plows through space, it creates a bow wave, like the wave formed by the bow of a ship. Kuiper Belt &  Oort Cloud: The Kuiper Belt is a doughnut-shaped ring of icy objects around the Sun, extending just beyond the orbit of Neptune from about 30 to 55 AU. Similar to the asteroid belt, the Kuiper Belt is a region of leftovers f...
Read more

ISRO developing semi-cryogenic engine working on LOX Kerosene propellant

By
ISRO is developing a 2000 kN thrust semi-cryogenic engine working on an LOX Kerosene propellant combination for enhancing the payload capability of LVM3 and for future launch vehicles. Liquid Propulsion Systems Centre (LPSC) is the lead centre for the development of semi-cryogenic propulsion systems with the support of other launch vehicle centres of ISRO. The assembly and testing of the propulsion modules were done at the ISRO propulsion complex (IPRC), Mahendragiri. As part of the engine development, a pre-burner ignition test article, which is a full complement of the engine power head system excluding the turbopumps is realized. The first ignition trial was conducted successfully on May 2, 2024, at semi cryo integrated engine test facility (SIET) at IPRC, Mahendragiri, which was dedicated to the nation recently by the honorable Prime Minister of India. Smooth and sustained ignition of the preburner is demonstrated which is vital for the starting of the semi-cryogenic engine. Semi-c...
Read more