Question : Payu has recently announced the Launch of its ‘unique’ Tokenisation Solution __.
a. PayU Token Hub
b. PayU Token Generator
c. PayU Token Dispensor
d. None of the above
Ans. a.
Related facts —
- Payu has recently(October 2021) announced the Launch of its ‘unique’ Tokenisation Solution PayU Token Hub.
- The aim of this token hub is to to enable businesses to comply with RBI’s latest guidelines on online card data storage whilst allowing issuing banks to also generate their tokens.
- It is built by PayU and Wibmo, a PayU owned full-stack global PayTech company, in partnership with major card networks including Visa, MasterCard – and leading issuing banks.
- The solution offers both network tokens and issuer tokens under a single hub.
- It is notable that RBI mandated that only banks and networks will be allowed to store customer card data from January 1, 2022.