Worldline partners with card networks to launch tokenization solution

Worldline, a leader in payments solutions, has partnered with leading card networks including Visa, Mastercard, and RuPay and leading card issuing banks in building a tokenization solution to enable businesses to comply with RBI’s diktat to storage of card details.

The RBI guidelines on card storage will come into effect from January 1, 2022. It would, essentially, mean that merchants, payment aggregators, and acquiring banks can no longer store the card details of customers.

Under the new guidelines, only card issuers, and card networks will be able store card details. Merchants and other entities who have stored card details of clients so far will have to purge the data.

In a statement, Worldline said that it has developed a fully interoperable plug-and-play solution to enable card on file tokenization using single integration. Businesses will be able to enable the worldline tokenization solution with minimal technical upgrades and continue to offer seamless payments experience to their clients in compliance with the latest guidelines.

Worldline has collaborated with the leading card networks operating in the nation. It is also looking to partner with American Express in the near future.