Rules for online payments are due to change on January 1st. Everything you need to know

In 2020, the Reserve Bank of India announced adjustments to internet payment laws. It allowed online shops until the end of the year to begin using tokenization in September of this year. As a result, banks have been informing their clients. Continue reading Rules for online payments are due to change on January 1st. Everything you need to know

The RBI has started the third cohort of the Regulatory Sandbox

“Through business innovations, the MSME category has emerged as the growth engine of the Indian economy, contributing considerably to the country’s economic and social development by stimulating entrepreneurship and generating large job opportunities,” the RBI said in a statement. Continue reading The RBI has started the third cohort of the Regulatory Sandbox

More tokenization by the RBI lessens the trade-off between security and ease-of-use compulsions in the digital payments market

Tokenization is the process of substituting non-sensitive data for sensitive data. It is commonly used in the payments card business to replace a surrogate value termed a token with a cardholder’s card number (i.e., PAN). Payment transactions are made more convenient and secure thanks to tokenization. The notion has gained widespread acceptance in the payment card industry around the world. Continue reading More tokenization by the RBI lessens the trade-off between security and ease-of-use compulsions in the digital payments market