Deadline for tokenisation of credit, debit cards extended to June 30, 2022

RBI on Thursday extended deadline for card tokenisation to June 30, 2022. "In addition to tokenisation, industry stakeholders may devise alternate mechanisms to handle...recurring e-mandates and EMI option, or post-transaction activity that currently involves/requires storage of CoF data by entities other than card issuers and card networks," said RBI. The earlier deadline was December 31, 2021.