PhonePe launched tokenisation solution ‘SafeCard’

Digital Payment firm, PhonePe has launched a tokenization solution named ‘SafeCard’ for online debit and credit card transactions. Earlier in September 2021, RBI had made a device-based tokenization framework applicable to Card-on-File Tokenisation (CoFT) services as well i.e Card-on-File (CoF) means that the Credit/Debit card details are stored by merchants for ease of payment.

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Here are some other tokenisation solutions launched in recent times:

• PayU- ‘PayU Token Hub’
• CCAvenue- ‘TokenPay’

Important takeaways for all competitive exams:

• CEO of Phonepe: Sameer Nigam
• Headquarters location of Phonepe: Bengaluru, Karnataka.

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