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In October 2021, National Payments Corporation of India launched NPCI Tokenization System (NTS) to support tokenization of which of the following cards?

In October 2021, National Payments Corporation of India launched NPCI Tokenization System (NTS) to support tokenization of which of the following cards? Correct Answer RuPay

The correct answer is RuPay.

Key Points

  • National Payments Corporation of India (NPCI) on 20 October 2021 launched NPCI Tokenization System (NTS) to support tokenization of RuPay cards.
  • The launch comes after RBI mandated tokenization of cards from 1 Jan'22.
  • Card tokenization refers to a process that replaces details of a card, such as its number and CVV, used for making a transaction with an encrypted algorithmically generated token. 

Important Points

  • ​This process is expected to secure sensitive financial data of customers and curb cyber frauds.
  • NTS will support tokenisation of RuPay as an alternate to storing card details with merchants.

Additional Information

  • ​The National Payments Corporation of India is an umbrella organisation for operating retail payments and settlement systems under the ownership of Reserve Bank of India in India.
  • NPCI was founded in 2008.

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