The Reserve Bank of India (RBI) on December 20, 2023, issued a notification regarding Card-on-File Tokenisation (CoFT) Enabling Tokenisation through Card Issuing Banks.
As announced in the Statement on Development and Regulatory Policies dated October 6, 2023, it has been decided to enable CoFT directly through card-issuing banks/institutions. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process. Detailed requirements for the same are listed in the attached document.
[Notification No. RBI/2023-24/91CO.DPSS.POLC.No.S-919/02-14-003/2023-24]
