Money & Banking

HSBC India partners with Google Pay for tokenisation on its credit card portfolio

Our Bureau Mumbai | Updated on April 22, 2021

The move is in line with the bank’s ongoing endeavour towards enhanced security and convenience for its card holders

HSBC India on Thursday announced that it has collaborated with Google Pay (GPay) and VISA to enable secured tokenisation on its credit cards.

“This new feature will enable HSBC Credit Card customers to link their card to GPay and use it as a payment option to securely and digitally transact using their mobile phones – online and at merchant stores,” it said in a statement, adding that the feature is free but optional for its credit card users.

The move is in line with the bank’s ongoing endeavour towards enhanced security and convenience for its card holders, it further said.

Tokenisation is the process of replacing a card’s sensitive information like card number, expiration date, security code with a device-specific alternate code, or ‘Token’.

“We believe that our partnership with Google Pay through tokenisation will be critical in ensuring that the security of our customers’ credit card details is not compromised. We are the first international Bank in the country to go live with this capability,” said Ramakrishnan S, Head-Wealth and Personal Banking, HSBC India.

Published on April 22, 2021

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