Now with a single token, customers can transact online
New system of RBI to protect customers from fraud
New Delhi, dated 9
To protect online shoppers on e-commerce websites from fraud, RBI has changed the rules for token arrangements. Now the bank will announce a special token number for direct credit cards and debit cards. With the help of which all the websites can be purchased with a single token.
The need to create different tokens will be eliminated. In the current system, customers have to go to the e-commerce website and create a token. It is announced on the mobile app or webpage of the business.
According to the new rule, the token number will also be announced at the bank level. With the new facility, the card holder will be able to link his account directly with the e-commerce platforms, so that the customer will be able to make payments everywhere with just one token.