CURRENT AFFAIRS

Detailed explanation-1: -SBI Cards and Payment Services has tied up with Paytm for card tokenisation to protect the data of the cardholders.

Detailed explanation-2: -SBI Card, launched in October 1998 in New Delhi, is a joint venture between the State Bank of India and GE Capital.

Detailed explanation-3: -Tokenization is the process of replacing a card’s 16-digit number on the plastic card with a unique alternate card number, or ‘Token’ which shall be unique for a combination of card, token requestor and device. Tokens can be used for online transactions, mobile point-of-sale transactions or in-app transactions.