Digital payments major PhonePe on Tuesday announced the launch of PhonePe SafeCard, which is a tokenisation solution for online debit and credit card transactions.
“This solution will enable both PhonePe users and merchant partners to continue experiencing the convenience of saved card transactions with increased security, and in compliance with the new Reserve Bank of India guidelines,” it said in a statement, adding that the solution supports all major card networks such as Mastercard, Rupay and Visa.
SafeCard will also enable PhonePe merchant partners to offer and use tokenisation on their own platforms through a simple Application programming interface (API) integration.
“With this solution, merchant partners can create, process, delete and modify tokens for online card payments with customers’ consent,” it further said.
“PhonePe SafeCard ensures that the added security doesn’t impact the customer experience at all. We are also closely working with our large merchant base to take them live on this platform,” said Ankit Gaur, Director, Online Business, PhonePe.
Published on November 2, 2021
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