General Studies · Digital Banking & Tokenization
Which statement best describes the regulatory framework for Card-on-File (CoF) Tokenization as per RBI guidelines in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Tokenization applies only to foreign bank credit cards and is optional for RuPay cards.
- 2Only Card Issuers and Card Networks can store actual card data, while merchants must use tokens.✓
- 3Customers must pay ₹50 per token valid for a maximum of 30 days.
- 4Tokens are universal and a single token can be used seamlessly across all merchants.
Correct answer
Only Card Issuers and Card Networks can store actual card data, while merchants must use tokens.
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