Introduction: Card Tokenization is the process of replacing original card details with an alternative code called a "token" that should be unique and provides an additional degree of protection for customer credit card details. Recently, RBI has made tokenization mandatory for all credit and debit cards used in online, POS and in-app transaction.
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Conclusion- In India, tokenization is a fundamental shift that requires all the stakeholders in the payment ecosystem – acquirers, issuers, card networks, banks, and fintech’s, among others – to do their part to help ensure a secure digital payment environment.