2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Paytm
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PhonePe
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Google PAy
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Amazon Pay
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Detailed explanation-1: -How to Enable Card Tokenization Feature on PhonePe. The ‘PhonePe SafeCard’ is a tokenisation solution introduced by PhonePe. It allows online businesses and their consumers to enjoy the ease of stored card transactions while also increasing security. It complies with the most recent RBI guidelines.
Detailed explanation-2: -NORMS ABOUT NEW RBI POLICY YOU NEED TO KNOW As per the issued norms, consumers are obliged to create specific codes or substitute tokens instead of exposing real card information. This policy comes into process on 1st October 2022.
Detailed explanation-3: -Payment giants like PayTM, PhonePe, PayU and Pine Labs have released data on the number of tokenized cards before RBI’s mandate on tokenisation.
Detailed explanation-4: -Under the Safeguard Tokenisation solution, PhonePe has been creating tokens since December 2021 with major card networks including the likes of RuPay, Visa, and Mastercard.