SBI Card, Paytm tie up for card tokenisation to protect cardholders’ data | Business Standard News

Clipped from: https://www.business-standard.com/article/companies/sbi-card-paytm-tie-up-for-card-tokenisation-to-protect-cardholders-data-121123000998_1.html

Tokenisation refers to masking the original card number by replacing it with a set of unique characters, termed as token, which secures the customer’s card details when a transaction is under process

paytm

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

SBI Card has collaborated with Paytm to enable cardholders to tokenise their cards on devices and make payments through Paytm, SBI Card said in a regulatory filing on Thursday.

Tokenisation refers to masking the original card number by replacing it with a set of unique characters, termed as token, which secures the customer’s card details when a transaction is under process.

SBI Card said the card tokenisation facility is available only on Android NFC (near field communication) devices.

“Currently, only cards issued in the Indian territory are enabled on Paytm network. However, customers may transact using his/her SBI Card through Paytm network in international locations,” SBI Card said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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