Question
Consider the following statements about Card-on-File
Tokenization: 1. Recently RBI has now enabled card-on-file tokenisation (CoFT) through card issuing banks and institutions. 2. Tokenisation refers to replacement of actual credit and debit card details with an alternate code called the “token”. 3. The card detail when stored with a merchant is known as card-on-file (CoF). Which of the statements given above is/are correct?Solution
In order to make digital payments more secure, safe and sound the he Reserve Bank of India (RBI) has now enabled card-on-file tokenisation (CoFT) through card issuing banks and institutions. Tokenisation refers to replacement of actual credit and debit card details with an alternate code called the “token”. It is a combination of card, token requestor and device. The card detail when stored with a merchant is known as card-on-file (CoF). This token is a randomly generated string of characters that has no intrinsic value and is meaningless outside of the context of a specific transaction. The token is used as a surrogate for the actual card details, making it more secure to store and transmit.
What was the growth rate of the Goods and Services Tax (GST) collection in August 2023?
The Safai Apnao Bimaari Bhagao initiative under SBM-U 2.0 focuses on which of the following?
World Usability Day is observed every year on?
______ is the sponsor of the men’s and women’s national hockey teams for another 10 years after the current sponsorship ends in 2023.
Which of the following is NOT a benefit of Miyawaki Forests?
What is the likely outcome if the RBI delays its normalization process?
What is the new solvency requirement set by IRDAI for surety bonds?
Which of the following statements correctly describes the purpose of the MyGov platform under the Digital India Mission?
How many times has Stefanos Tsitsipas won the Monte Carlo Masters, including his latest victory?
The Surajkund Handicrafts Mela will be organized in the state?
Relevant for Exams:
