PayPhi launches tokenization service that supports RuPay cards

PayPhi, Phi Commerce’s API (Application programming interface) first digital payments platform has become the first certified tokenization service for NPCI Tokenization System (NTS) that supports the tokenization of RuPay cards.

Tokenization of cards as an alternative to storing card details with merchants. NPCI’s NTS platform enables PayPhi Tokenization service to provide partner merchants and aggregators with TROF. Token Reference on File (TROF) turns sensitive cardholder data into randomly generated 16 digit numbers called “token” with no meaningful value if breached.

On the lines of the guidelines issued by the Reserve Bank of India (RBI) in September 2021 regarding tokenization of cards during online transactions, NPCI announced the launch of the NPCI Tokenization System (NTS).

Static/Current Takeaways Important For All Exam 2021:

NPCI Founded: 2008;

NPCI Headquarters: Mumbai, Maharashtra;

NPCI MD & CEO: Dilip Asbe.