MANU/RMIC/0130/2023

Ministry : Reserve Bank of India

Department/Board : Department of Payment and Settlement Systems

Circular No. : CO.DPSS.POLC.No.S-919/02-14-003/2023-2024
                   RBI/2023-2024/91

Date : 20.12.2023

Notification/ Circulars Referred : Reserve Bank of India circulars DPSS.CO.PD No.1463/02.14.003/2018-19 dated January 8, 2019 MANU/RMIC/0003/2019;CO.DPSS.POLC.No.S-516/02-14-003/2021-22 dated September 07, 2021 MANU/RMIC/0121/2021;CO.DPSS.POLC.No.S-567/02-14-003/2022-23 dated June 24, 2022 MANU/RMIC/0118/2022;Statement on Development and Regulatory Policies dated October 6, 2023 MANU/RPRL/0598/2023;August 25, 2021 MANU/RMIC/0114/2021;July 28, 2022 MANU/RMIC/0131/2022

Citing Reference:
Reserve Bank of India circulars DPSS.CO.PD No.1463/02.14.003/2018-19 dated January 8, 2019 MANU/RMIC/0003/2019  Referred

CO.DPSS.POLC.No.S-516/02-14-003/2021-22 dated September 07, 2021 MANU/RMIC/0121/2021  Referred

CO.DPSS.POLC.No.S-567/02-14-003/2022-23 dated June 24, 2022 MANU/RMIC/0118/2022  Referred

Statement on Development and Regulatory Policies dated October 6, 2023 MANU/RPRL/0598/2023  Referred

August 25, 2021 MANU/RMIC/0114/2021  Referred

July 28, 2022 MANU/RMIC/0131/2022  Referred

All Payment System Providers and Payment System Participants

Madam / Dear Sir,

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 a........