Tokenisation deadline extended till September 30

The deadline for tokenisation of customer payment cards has been extended again for three months by the reserve bank of India. The Last date for compliance has been set as September 30.

E-commerce and other online businesses were asked to stop storing customers’ card details on their servers. Instead, they were asked to store the information in a token format that would help with the identification of cards for seeking payments from the customer’s bank. The deadline has been extended thrice. Initial direction had a stipulated deadline of December 30, 2021, which was later extended till June 30, 2022, which has again been extended to September 30, 2022.