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Debit Card, Credit Card Online Payment Rule: RBI Extends Tokenisation Deadline. Know More

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Debit Card, Credit Card Online Payment Rule: RBI Extends Tokenisation Deadline. Know More

In order to make online payment transactions via credit and debit cards more secure and reliable, the Reserve Bank of India (RBI) has ordered all online payment gateways, merchants and e-commerce companies to tokenize their customers when making payments.

The Central Bank has asked all merchants and e-commerce companies to delete all sensitive data related to customer card details provided on its platform.

According to the new rules that take effect on January 1, 2022, all merchants are required to use encrypted tokens for transactions instead of credit and debit cards. January 22! The HDFC bank card details you saved on the merchant’s website/application will be deleted by the merchant in accordance with RBI requirements to enhance the card’s security. To pay each time, enter the full card details or choose tokenization. “

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What is tokenization?
Tokenization refers to the replacement of credit and debit card details with an alternative code called a “token”, which is important for the card and the token requestor (the entity that accepts the tokenization request of the card from the customer and passes it) The combination is the only RBI said, to the card network to issue tokens) and equipment.

This reduces the chance of fraud due to sharing card details. The token is used to perform contactless card transactions on point-of-sale (PoS) terminals and QR code payments.

RBI has also extended the tokenization of Card-on-File (CoF) transactions-card details used to be stored by merchants-and instructed merchants not to store card details in their systems starting January 1, 2022.

A CoF transaction is a transaction in which a cardholder authorizes a merchant to store his or her MasterCard or Visa payment details and bill the stored account. E-commerce companies, airlines, and supermarket chains often store card details.

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Will it affect the online transactions of merchants?
As thousands of stakeholders have not yet joined the tokenization platform, and “entities regulated by RBI are not yet ready for new initiatives”, digital payment companies and merchant institutions have requested RBI to extend the implementation period of tokenization rules. They stated in a letter to the Reserve Bank of India that if implemented in the current state of preparation, the new authorization may cause significant disruption and loss of revenue, especially for merchants.

The Business Payments Alliance of India (MPAI) and the Digital India Foundation Alliance (ADIF) stated in a joint letter: “This type of destruction weakens the trust in digital payments and makes consumers accustomed to switching to cash payments.” Expressed concerns about RBI’s industry readiness for the CoF directive and urged the central bank to extend the December 31st deadline for implementing card data storage specifications. Sources said that some banks also wrote to the Reserve Bank of India, seeking to extend the implementation time of the new regulations.

Complete News Source : The IndianEXPRESS

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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