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SBI Card, Paytm join hands for card tokenisation
SBI Cards and Payment Services has tied up with Paytm for card tokenisation to protect data of the cardholders.
New Delhi: SBI Cards and Payment Services has tied up with Paytm for card tokenisation to protect data of the cardholders.
SBI Card has collaborated with Paytm to enable cardholders to tokenise their cards on devices and make payments through Paytm, SBI Card said in a regulatory filing on Thursday.
Tokenisation refers to masking the original card number by replacing it with a set of unique characters, termed as token, which secures the customer's card details when a transaction is under process.
SBI Card said the card tokenisation facility is available only on Android NFC (near field communication) devices. "Currently, only cards issued in the Indian territory are enabled on Paytm network. However, customers may transact using his/her SBI Card through Paytm network in international locations," SBI Card said.
