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........