Tokenisation RBI: Extended Till June 2022

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RBI has extended the deadline for card tokenization until June 2022.

Highlights:

The card-on-file (CoF) tokenization deadline has been extended by the Reserve Bank of India (RBI) by six months, to June 30, 2022.
Previously, the deadline was set for December 31, 2021. 
RBI issued guidelines for the regulation of payment aggregators and payment gateways in March 2020, prohibiting payment aggregators and merchants from storing customer card credentials in their database or server after June 30, 2021.
The RBI expanded the scope of tokenization from device-based to CoF tokenization services in September 2021, prohibiting merchants from storing actual card data during online transactions. 
The deadline for card tokenization has been set for January 1, 2022, by the RBI.

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