In a first, the National Payments Corporation of India certified PayPhi, Phi Commerce’s API-first digital payments platform, as its first tokenisation service for NPCI’s Tokenization System (NTS) that supports tokenisation on RuPay cards.
New and existing merchants and aggregators will be able to integrate the service in the coming days and start processing token-based transactions.
The Reserve Bank of India had rolled out a a set of guidelines to store sensitive customer information in the form of encrypted ‘token’.
To comply with this guideline, NPCI announced the launch of NPCI Tokenisation system (NTS) to support tokenisation of cards as an alternative to storing card details with merchants.
