Card-on-File Tokenization – Can RBI Bridge The Gap?

RBI mandates Card-on-File Tokenization (“CoFT”) framework for Payment Aggregators and Payment Gateways. In this article, I expand on what it is and how it affects merchants and the consumers. In August 2021, the Reserve Bank of India (“RBI”) vide its notification issued a directive that any entity that is not a card network (such as MasterCard, […]