How to Token your ICICI Bank Credit or Debit Card? | Techno Glob


How to Token your ICICI Bank Credit or Debit Card?

As From the Reserve Bank of India The mandate is 2022. Effective October 1st. Card No. CVV and expiry date and other sensitive information about cards cannot be stored by merchants or payment aggregators/gateways for processing online payments. Users need to tokenize their credit/debit cards.

Tokenisation refers to replacing the actual or credit/debit card number with a replacement code called a “Token”. Once created, These token number details will be used instead of the actual card number for future online purchases initiated or directed by the cardholder. Tokenized card transactions are considered more secure as actual card details are not shared/stored with merchants for transactions.

Does the tokenization guide apply to both credit and debit cards?
Yes. Starting October 1, 2022, both debit and credit cards must be tokenized. The customer does not need to pay any fee for the card Tokenising service; It is completely free.

What are the benefits of tokenisation?
actual card data; The token and other relevant details are stored in a secure encrypted mode by the card issuing bank and/or authorized card networks. Token requesters/merchants cannot store full card numbers or other card details.

How will the sign be carried?
Step 1: The cardholder will be able to tokenize the card by making a request on any e-commerce website/app they wish to transact with.

Step 2: The token website/app will send the request directly to the relevant credit card issuer or bank. Visa/Mastercard/American Expresswith the consent of the card issuing bank;

Step 3: The party receiving the request from the token requester, the card; A token will be issued that combines the token requester and the merchant. This means that the customer will see the last 4 digits of the card on the merchant page once the identity is verified.

Does every merchant need to mark the card symbol?
Yes. A token must be unique to a card at a specific merchant. If the customer intends to have a card at different merchants (e-commerce websites/apps); Tokens must be generated at all merchants. Also, the customer needs to do this process for all the cards he/she holds. As mentioned earlier, The token is unique to the card and merchant combination. A customer can request any number of cards to be tokenized as they want to make a transaction.

How can users manage their token cards?
The bank will provide a portal to cardholders to view and manage tokenized cards. Cardholders can view/delete tokens for their respective cards through this portal. Customers can also call the phone banking service to submit a request to manage tokenized cards.

Tokenization will be effected on POS transactions made by the cardholder at the outlets.
No. Tokenization is required only for online transactions.

Who can perform tokenization and tokenization?
Tokenisation and de-tokenisation can only be done by card issuance. Bank or Visa/Mastercard/American Express Referred to as authorized card networks.

How does the registration process for a tokenisation request work?
Registration for a Token Request is only done with the Client’s consent. An additional point of authentication (AFA), check box Not by force/default/auto option like radio button etc. Customers will be given the option of selecting the use case and limitations.

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