NPCI launches NTS platform for Card Tokenisation

Highlights:

• National Payments Corporation of India (NPCI) announced for the launch of NPCI Tokenization system (NTS) on October 20, 2021.
• The main aim is to provide support to the tokenisation of cards as an alternate for storing card details with merchants.
• The NTS will support the tokenisation of RuPay cards in order to further enhance the safety of customers as well to provide a seamless shopping experience for the consumers.
• With the launch of NTS, acquiring banks, merchants, aggregators, and others can get themselves certified with the NPCI. 
• This in turn will help them in playing the role of Token Requestor.
• Token requestor will help in save the token reference number (Token Reference on File (TROF)) for all the saved card numbers.
• By utilizing the TROF, all the businesses can maintain their RuPay consumer base for future transactions that will be initiated by their respective RuPay consumers.
• Merchants are required to meet the Tokenisation by January 1, 2022.

• NPCI is the specialised division of Reserve Bank of India. 
• It works under the jurisdiction of Ministry of Finance. 
• It was established to operate retail payments and settlement systems in India. 
• NPCI was established in December 2008 and is registered under Section 8 of the Companies Act 2013. 
• It was established by the RBI and Indian Banks’ Association.