RuPay, India’s homegrown card payment network, has launched a new feature, allowing customers to make tokenised payments without the need for a card verification value (CVV). The new feature is aimed at making online payments easier, quicker and more secure for customers.
The new feature works by creating a “token” of the customer’s card details, which is then used to make payments, instead of the actual card details. This token can be used to make payments without the need for the customer to enter the CVV code.
The tokenisation process is secured by the RuPay card network and the payment gateway, thus providing an extra layer of security for the customers. The tokenised payments are also more convenient, as it eliminates the need to enter the CVV code every time a payment is made.
RuPay is the first card payment network in India to offer this feature. It is expected to benefit both customers and merchants, as it will reduce the time taken for payments and make them more secure. This feature is already live in the market and is being used by several merchants.