The MPAI, an association that represents merchants, has requested the Reserve Bank of India<\/a> (RBI) to plug issues around recurring payments through tokens before giving effect to the no-card storage rule, three people familiar with the development told ET.
“We humbly request that the RBI mandates card networks, payment aggregators and payment gateways to share a status report to demonstrate their readiness to fulfil tokenized transactions across all use cases,” the MPAI said in a letter to the RBI. “We also request that the RBI takes appropriate actions as deemed necessary to ensure that issues with token flows for recurring payments are duly addressed, before requiring the ecosystem to action the no-card storage rule.”
ET has seen a copy of the letter addressed to the central bank.
Tokenisation<\/a> is a process by which card details are replaced by a unique code or token, allowing online purchases to go through without exposing sensitive card details.
Central bank rules require all merchants to delete customer debit and credit card details before October 1 and replace card payments with unique tokens. Merchants are meeting on Monday, and will likely request a deferral of this deadline.
Merchants warn that implementing tokenisation without adequate preparedness will result in major disruption in recurring payments, akin to that seen in October last year when the mandate was first brought in.
“As merchants, we don’t know whether the upstream partner is ready. While we have been given verbal assurances by our partners, we haven’t received any sample transactions nor have we been able to test this on our own platform,” said one of the merchants involved in the discussions. “We fear that the recurring piece will once again face massive disruption.”
The RBI said in July it would not extend the timeline for storing card data and directed all stakeholders, except for card issuers and card networks, to purge the customer data before October 1, 2022. This is the third such extension in the past 18 months. As an interim measure, the RBI allowed merchants and payment aggregators to store card-on-file (CoF) only for guest checkout transactions for a maximum period of transaction date plus four days.
It also said that penal action, including imposition of business restrictions, will be considered in case of any non-compliance.
While banks and other industry participants say they are in complete readiness, merchants have submitted to the central bank that processing recurring payments still remains a challenging exercise due to the multiple steps involved.
Tokenising cards for such payments requires creation of mandates, and then this mandate needs to be migrated on tokens. The third leg of ensuring periodic auto-debits on the relevant account based on a combination of mandate ID and token is also a tricky process, experts say.
“We note that our members who are completely dependent on payment aggregators have had no testing experience on all three of the above-mentioned elements to date,” the letter to the RBI states. “Members that have been able to test still have only limited visibility on the efficacy of recurring payment flows due to lean upstream readiness. At the merchant’s end, access to bank identification numbers (BINs) from card networks is necessary to map mandate IDs and process recurring payments. Progress on this front is also limited.”
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商人协会旗帜打点tokenisation准备
MPAI,协会代表商人,已经要求印度储备银行(RBI)插头问题重复支付通过令牌之前效果没有存储规则,熟悉开发三个人告诉。
网飞公司,微软,Spotify和迪斯尼Hotstar名列全球服务提供商提出了问题的可行性重复付款通过强制令牌从10月1日中央银行干预通过行业组织,以确保完美的交易在一个政权将禁止商家存储用户信用卡细节。
MPAI,协会代表商人,有要求印度储备银行(RBI)插头问题重复支付通过令牌之前效果没有存储规则,熟悉开发三个人告诉。
“我们谦卑地请求,印度央行授权卡网络支付聚合器和支付网关分享状态报告展示他们准备完成所有用例,标记化的交易“MPAI致信印度储备银行说。“我们也要求印度储备银行被认为有必要的采取适当的措施来确保牌流重复支付的问题得到妥善解决,要求生态行动之前没有存储规则。”
等看到了这封信的副本寄给中央银行。
Tokenisation是一个过程,取而代之的是一个独特的代码或令牌卡细节,让网上购物经历没有暴露敏感卡的细节。
中央银行规定要求所有商家删除客户借记卡和信用卡信息在10月1日之前,用独特的令牌替换卡支付。商人是周一的会议,可能会请求延期的期限。
商人实现tokenisation警告说,没有足够的准备将导致重复支付,严重破坏类似于看到去年10月授权时第一个了。
“作为商家,我们不知道上游合作伙伴是否准备好了。当我们得到口头保证,我们的合作伙伴,我们还没有收到任何样品交易也没有我们自己能够测试这个平台,”其中一个说的商人参与讨论。“我们担心重复块将再次面临巨大的破坏。”
印度央行表示它不会延长储存时间7月卡数据和所有利益相关者,除了发卡机构和信用卡网络,2022年10月1日之前清除客户数据。这是在过去的18个月里第三次扩展。作为临时措施,印度央行允许商家和支付聚合器存储card-on-file(咖啡)仅为客人结帐交易最大一段交易日期+ 4天。
它还说,刑事诉讼,包括实施的业务限制,将被视为在任何不符合。
虽然银行和其他行业参与者说他们完全准备就绪,商人已经提交给中央银行,处理重复支付仍然是一个具有挑战性的运动由于多个步骤。
Tokenising卡等支付,需要创建要求,然后这个令牌授权需要迁移。确保定期的第三站auto-debits相关账户基于授权ID和令牌的组合也是一个复杂的过程,专家说。
“我们注意到,我们的成员是完全依靠支付聚合器没有测试经验三个上述元素到目前为止,“这封信给印度储备银行。”成员,已经能够测试仍然仅有有限的能见度的功效循环流动由于精益上游准备付款。在商人的目的,获得银行识别码(箱)从卡网络是必要的授权id和映射过程重复支付。在这方面进步也有限。”
MPAI,协会代表商人,有要求印度储备银行(RBI)插头问题重复支付通过令牌之前效果没有存储规则,熟悉开发三个人告诉。
“我们谦卑地请求,印度央行授权卡网络支付聚合器和支付网关分享状态报告展示他们准备完成所有用例,标记化的交易“MPAI致信印度储备银行说。“我们也要求印度储备银行被认为有必要的采取适当的措施来确保牌流重复支付的问题得到妥善解决,要求生态行动之前没有存储规则。”
等看到了这封信的副本寄给中央银行。
Tokenisation是一个过程,取而代之的是一个独特的代码或令牌卡细节,让网上购物经历没有暴露敏感卡的细节。
中央银行规定要求所有商家删除客户借记卡和信用卡信息在10月1日之前,用独特的令牌替换卡支付。商人是周一的会议,可能会请求延期的期限。
商人实现tokenisation警告说,没有足够的准备将导致重复支付,严重破坏类似于看到去年10月授权时第一个了。
“作为商家,我们不知道上游合作伙伴是否准备好了。当我们得到口头保证,我们的合作伙伴,我们还没有收到任何样品交易也没有我们自己能够测试这个平台,”其中一个说的商人参与讨论。“我们担心重复块将再次面临巨大的破坏。”
印度央行表示它不会延长储存时间7月卡数据和所有利益相关者,除了发卡机构和信用卡网络,2022年10月1日之前清除客户数据。这是在过去的18个月里第三次扩展。作为临时措施,印度央行允许商家和支付聚合器存储card-on-file(咖啡)仅为客人结帐交易最大一段交易日期+ 4天。
它还说,刑事诉讼,包括实施的业务限制,将被视为在任何不符合。
虽然银行和其他行业参与者说他们完全准备就绪,商人已经提交给中央银行,处理重复支付仍然是一个具有挑战性的运动由于多个步骤。
Tokenising卡等支付,需要创建要求,然后这个令牌授权需要迁移。确保定期的第三站auto-debits相关账户基于授权ID和令牌的组合也是一个复杂的过程,专家说。
“我们注意到,我们的成员是完全依靠支付聚合器没有测试经验三个上述元素到目前为止,“这封信给印度储备银行。”成员,已经能够测试仍然仅有有限的能见度的功效循环流动由于精益上游准备付款。在商人的目的,获得银行识别码(箱)从卡网络是必要的授权id和映射过程重复支付。在这方面进步也有限。”
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