The first certified tokenization service for NPCI Tokenization System(NTS)

The first certified tokenization service for NPCI Tokenization System(NTS)

Question : Tokenization is an alternative arrangement under which the information related to the cards of banks is stored with the merchant. Which of the following has recently(December 2021) launched tokenization service for Indian Businesses on RuPay ?
a. PayPhi
b. Google Pay
c. JIO Money
d. Payzapp
Ans. a.
Related facts —

  • PayPhi recently(December 2021) launched tokenization service for Indian Businesses on RuPay.
  • PayPhi is Phi Commerce’s API-first digital payments platform.
  • It has now become the first certified tokenization service for NPCI Tokenization System (NTS) that supports the tokenization of RuPay cards.
  • Tokenization is an alternative arrangement under which the information related to the cards of banks is stored with the merchant.
  • It is noteworthy that the National Payment Corporation of India had announced the launch of a token system for RuPay cards in October 2021.

Link:
https://www.business-standard.com/content/press-releases-ani/payphi-launches-tokenization-service-for-indian-businesses-on-rupay-121120600962_1.html