RBI extends card tokenisation deadline by 6 months till June-end

The RBI has extended the card-on-file tokenisation deadline by six months to June 30, 2022, in view of various representations received from industry bodies.

New Delhi: The Reserve Bank of India (RBI) on Thursday extended the card-on-file (CoF) tokenisation deadline by six months to June 30, 2022, in view of various representations received from industry bodies.

Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions.

The earlier deadline was December 31, 2021.