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New Debit/Credit Card Rules in India from July 1, 2022: Implementation of Card Tokenization | Dezan Shira & Associates

posted 1 year ago

In this article, we discuss the new mandate by the Reserve Bank of India (RBI) regarding the usage mechanism of credit and debit cards by the individuals in India, applicable from July 1, 2022. As per the mandate, online commerce platforms will be required to delete card-on-file credentials. We also explain how card tokenization could be implemented to manage the new data storage compliance in India, and highlight scope for fintech businesses.

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