INSUBCONTINENT EXCLUSIVE:
Paytm mentioned that "a tokenized card transaction is considered to be safer."New Delhi: Digital payments company Paytm on Tuesday announced
that its wholly-owned subsidiary Paytm Payments Services Ltd (PPSL) has made strides with its card-on-file tokenization or "Paytm Token
Gateway".The company, in a release, said it has partnered with platforms such as Myntra, Oyo, Domino's and others, while also joining
hands with payment giants like Visa, Mastercard and RuPay.With the partnership, the card on file tokenization service will be available for
all of Paytm's consumers and merchants, the company said
network anymore, it added.Paytm mentioned that "a tokenized card transaction is considered to be safer as the user's actual card details
are not shared with the merchant
number."Without the card tokenization feature, users will have to feed their entire 16-digit credit or debit card number every time they do
an online payment or transaction.Praveen Sharma, MD - CEO, Paytm Payments Services Ltd
Our merchant partners can now offer seamless, secure payments to their users
At Paytm, it is of paramount importance to ensure secure digital payments and we are happy to offer Paytm Token Gateway to India's
e-commerce stores have to comply with the new card-on-file tokenization feature by December 31, 2021.
