22 April 2024

Notifications & Circulars

Reserve Bank of India



Card-on-File Tokenisation (CoFT) - Enabling Tokenisation through Card Issuing Banks


1. The card tokenisation services are being currently provided by card issuers and card networks in terms of Reserve Bank of India circulars DPSS.CO.PD No.1463/02.14.003/2018-19 dated January 8, 2019 on "Tokenisation - Card transactions", CO.DPSS.POLC.No.S-516/02-14-003/2021-22 dated September 07, 2021 on "Tokenisation - Card Transactions: Permitting Card-on-File Tokenisation (CoFT) Services" and CO.DPSS.POLC.No.S-567/02-14-003/2022-23 dated June 24, 2022 on "Restriction on Storage of Actual Card Data [i.e. Card-on-File (CoF)]".

2. As announced in the Statement on Development and Regulatory Policies dated October 6, 2023, it has been decided to enable CoFT directly through card issuing banks / institutions also. This will provide cardholders with an additional choice to tokenise their cards for multiple merchant sites through a single process.

3. This directive is issued under Section 10 (2) read with Section 18 of Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Tags : CoFT Tokenisation Banks

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