CURRENT AFFAIRS

Detailed explanation-1: -PayU collaborated with Google Pay to launch tokenised payments flow for merchants in India.

Detailed explanation-2: -Mastercard Partners With Google Pay To Facilitate Tokenization Across India. Google Pay along with Mastercard will facilitate tokenization in India.

Detailed explanation-3: -Mastercard and Google Pay come together to facilitate tokenization for card-based payments across India. Mastercard and Google today announced the rollout of tokenization that will enable Google Pay users to safely transact using their Mastercard credit and debit cards while enjoying a hassle-free experience.

Detailed explanation-4: -Google Pay uses a process called tokenization to save your card. Tokenization is a method of replacing your sensitive payment Card information (Card Number, Expiry Date, CVV etc.)

Detailed explanation-5: -PayU, the payment service provider announced that it has worked with some of India’s largest payment networks and successfully tokensied over 50 million cards. PayU offers issuer tokens and network tokens under a single hub. Launched in October 2021, this company helps businesses in following the latest RBI guidelines.