The Reserve Bank of India (RBI) on Friday expanded the card-on-document (CoF) tokenisation cutoff time by 90 days to September 30, 2022, given different portrayals got from industry bodies.
Card-on-document, or CoF, alludes to card data put away by installment passage and shippers to deal with future exchanges.
The previous cutoff time was terminating on June 30, 2022.
In a circular, the RBI said the business partners have featured a few issues connected with the execution of the structure in regard of visitor checkout exchanges. Likewise, various exchanges handled utilizing tokens is yet to get some decent momentum across all classes of shippers.
“These issues are being managed in meeting with the partners, and to keep away from disturbance and bother to cardholders,” it said while expanding the timetable of June 30 by three additional months to September 30, 2022.
