09-07-2021 | 16:30 PM
Cards Tokenization
• Google has roped in more banks for card tokenization on the Google Pay app.
• Tokenization will replace card details with a code, called a “token,” which will be specifically for the card, the token requestor and the device being used to pay.
• Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems. The goal of the process is to improve the safety and security of payments.
• Users would be able to pay their bills and recharge their numbers using credit cards.
