The Reserve Bank of India (RBI) has extended the scope of tokenisation to include consumer devices – laptops, desktops, wearables (wrist watches and bands) and Internet of Things (IoT) devices beyond the original permission for mobiles and tablets.
What is Tokenisation ?
- Tokenisation refers to replacement of actual card details with an alternate code called the “token”, which will be unique for a combination of card.
- Actually, it is the process of turning a meaningful piece of data, such as an account number, into a random string of characters called a token that has no meaningful value if breached.
