To improve the safety of online transactions, RBI has issued 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 NTS to support tokenization of cards as an alternate to storing card details with merchants.
NPCI’s NTS platform enables PayPhi Tokenization service to provide partner merchants and aggregators with Token Reference on File (TROF). TROF is a digital identifier aka ‘token’ which replaces the 16-digit RuPay card number. Whenever any RuPay cardholder consents to save their card with an online merchant or payment gateway, PayPhi Tokenization service will obtain a unique TROF from NPCI’s NTS platform. Thus, instead of the card number, TROF is stored at the merchant/payment gateway end and will be used in all subsequent transactions thus ensuring compliance to RBI guidelines by eliminating card on file storage and fortifying online transmission of customer credentials.
New and existing merchants and aggregators will be able to integrate in a matter of days and start processing token-based transactions.
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