The Reserve Bank of India (RBI) is extending the deadline for card-on-file (CoF) tokenisation by another three months to September 30 as transaction processing based on such tokens is yet to gain traction across categories of merchants. It was mandated that no entity in the card transaction or in the payment chain, other than the card issuers and / or card networks, can store the CoF data, and any such data stored previously be purged. It mandated the adoption of card-on-file (CoF) tokenisation as an alternative to card storage. It applies to domestic, online purchases. CoF refers to card information stored by payment gateway and merchants to process future transactions. Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions. Tokenisation is the process of replacing actual card details with a unique alternate code called 'Token' - thereby enabling more secure transactions.
Which organization launched the World Migration Report 2024?
India’s First Festival of Inclusion, Purple Fest started in which state?
Who was the first President of the United States?
What is the total investment amount approved by the CCEA for the development of the 12 industrial smart cities?
Who coined the term "Green Shoots" to describe signs of economic recovery?
Which of the following regulatory body has increased the upper age limit by 5 years for Ombudsman to 70 years?
_________ received a $500million loan from the International Finance Corporation (IFC) for microloans to underserved women.
Which of the following statements about Fundamental Duties in India is correct?
(I) They are described under Part V of the Indian Constitution.
Which island within Lakshadweep has the Indian Navy recently established as its new base?
Who is the Minister of Tribal Affairs?
