BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

Now payment through only one number!

Tuesday - August 6, 2019 11:56 am , Category : WTN SPECIAL
Credit-debit cards to be safe now
Credit-debit cards to be safe now

Payment through only one token number instead use of debit-credit card

AUG 06 (WTN) - As you know that in the Internet era net banking, debit and credit cards are used for money transactions and shopping. But, as you know that if you are negligent, then you have to face a lot of problems in the use of credit and debit cards. It has been seen that for this reason, many people are afraid to store their card data on a device or e-commerce websites.

But, for your information, let us know that the transaction is going to be even more secure with debit and credit cards. Actually, now you do not have to state your card number for any payment. A new number will be issued every time before any type of transaction. In order to start this new system, the Reserve Bank of India has issued new rules to this.

According to the RBI, there will be no need to give details of debit or credit card for any transaction under the new rules. Now your bank will issue a token number for payment by debit or credit card, and the transaction will be done through this token number. Debit and credit card details will be converted into a special code (token) in the new system according to the RBI. Now when you make any kind of payment through a website or app, you will have to give only the token number in place of the card details.

For your information, let us know that currently the token number will be available on the registered mobile number only on mobile and tablet. If this arrangement works smoothly and safely, then the token number will be sent to another device after feedback.

To use the token system, the user has to request it from the card issuing companies for tokenization. After requesting to the company, the token will be generated from the details of the user's card, the details of the company requesting the token and the identification of the user's device (mobile / tablet). Once the token is generated, it can be shared only with the company for which it is generated.

Although, the token service is not mandatory to use the card and the token service will depend on the customer's wishes. Customers can register and de-register themselves for any service, such as contactless, QR codes or in-app purchases. The customers can decide the daily transaction limits along with the limits of each transaction for transactions occurring through the transaction through token system. In this facility, the card issuing company will have to ensure that the customer can complain about the Identified Device (mobile / tablet) at the earliest and prevent its unauthorized misuse.

RBI claims that the risk of saving card details on any website or app using the token number will also be eliminated. With this new system, the token number will also be used in payments made through POS and QR codes. For your information, let you know that different tokens will be issued for each payment and users will not have to pay any kind of charge for this.

Regarding this new token system, the RBI claims that no one could know the real number of debit or credit card from the implementation of this new system. It is being claimed that the number of the users' card will be so secure that even the bank employee will not be aware of it. But, if there is any discrepancy during the payment, then the card payment companies will be responsible for the transaction in this condition.