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Thursday, September 9, 2021

The method of online card payment will change from January 1, 2022, the new rules announced by the RBI

The method of online card payment will change from January 1, 2022, the new rules announced by the RBI



  • Currently e-commerce companies have to provide all the information of the card
  • No pressure will be put on customers for the new rules, the card token system will be optional

The Reserve Bank of India (RBI) has announced new payment rules. These rules will take effect from January 1, 2022. I will now have a token system for online payments. The card will not store the original card data other than the bank or the card network that issued the card in the transaction.


Payment aggregator limited data can be stored for transaction tracking or in case of an emergency. The original card and the last 4 digits of the cardholder's name will be allowed to be stored. No other payment aggregator can hold any other information.

What is a 'card token system'?

From January 1, 2022, you will not have to share any card details with third parties. Currently, if you order a meal online or book a cab, you will have to provide the card details and all the details of the customer's card are saved here. The risk of fraud also increases. This does not happen in the token system.


To put it simply, a token does not require you to enter a card, instead it has a unique alternate number called a token. This number is linked to your card. Its use protects card details. That is, when you make a payment after shopping on an e-commerce website such as Amazon or Flipkart, you will have to write the token number instead of the 16 number card number.

Currently all card information has to be given

All you have to do now is enter your CVV number when making an online payment. This means that the e-commerce website already has your debit or credit card information stored. The e-commerce website will not be able to store your card information once the token system has been implemented.

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The new arrangement will be optional

The token arrangement will depend on the wishes of the customers. There will be no pressure on customers to take this. In addition, these rules will not be mandatory for any bank or card issuing company.

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