Summary:
Mumbai, Maharashtra, India – Business Wire India PayPhi, Phi Commerce’s API-first digital payments platform has become the first certified tokenization service for NPCI Tokenization System (NTS) that supports the tokenization of RuPay cards.
To further enhance the safety of online transactions, RBI has issued a set of guidelines to store sensitive customer information in the form of encrypted ‘token’.
To comply with this guideline, NPCI announced the launch of NPCI Tokenization system (NTS) to support tokenization of cards as an alternate to storing card details with merchants.
NPCI’s NTS platform enables PayPhi Tokenization service to provide partner merchants and aggregators with Token Reference On File (TROF).
TROF is a unique digital identifier aka ‘token’ which replaces the 16-digit RuPay card number.
Whenever any RuPay cardholder consents to save their card with an online merchant or payment gateway, PayPhi Tokenization service will obtain an unique TROF from NPCI’s NTS platform.