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PayPhi launches tokenization service that supports RuPay cards

Posted bySumit Arora Published On December 9th, 2021 Leave a comment on PayPhi launches tokenization service that supports RuPay cards
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PayPhi launches tokenization service that supports RuPay cards_4.1

Phi Commerce’s API (Application programming interface) first digital payments platform, PayPhi has become the first certified tokenization service for NTS supporting tokenization of RuPay cards. 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 TROF. Token Reference On File (TROF) turns sensitive cardholder data into randomly generated 16 digit numbers called “token” with no meaningful value if breached.

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On the lines of the guidelines issued by the Reserve Bank of India (RBI) in September 2021 regarding tokenization of cards during online transactions, NPCI announced the launch of the NPCI Tokenization System (NTS).

Important takeaways for all competitive exams:

  • NPCI Founded: 2008;
  • NPCI Headquarters: Mumbai, Maharashtra;
  • NPCI MD & CEO: Dilip Asbe.

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About the Author
Sumit Arora
Sumit Arora
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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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