What is tokenization?
At present online sites collect information about the cards that users use to complete payments for the future. This will change with the new tokenization method. No one can collect card information except the bank / card network that issued the credit / debit card. The new method is to use a token instead of entering the card information for the payment. Sites will receive this token when completing transactions. Also Read: The same card can have multiple tokens on each website. As a result, there is no risk of any site leaks. If the token is to be kept in place of the card from January, the user must give his consent at the time of payment. OTP received on the phone. Turn the card into a token only when issued. If the tokenization is not desired the user will have to enter the card information and make a payment each time. But the allegation is that this will keep users away from portals and transactions.
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