Thales has announced the contribution of its TSH Merchant Gateway (TMG) tokenization platform to further contribute to securing the digital payment ecosystem in India. In an effort to further help card issuers protect sensitive data by replacing it with non-sensitive data, Thales’s tokenization solution provides enhanced security for all stakeholders in India.
The Reserve Bank of India (RBI) has recently issued a circular for the device-based tokenization framework extending to card-on-file (CoFT) tokenization services and making EMV tokenization mandatory from January 1, 2022. This implies that no entity in the card transaction and payment chain (other than card issuers and/or card networks) needs to store the actual card data. With this, card issuers were allowed to offer card tokenization services as token service providers (TSPs).
Merchants, aggregators and payment gateways can benefit from the expertise of technical leaders like Thales to comply with this RBI mandate and offer more secure payment services to their customers in India. This is why Thales has launched its TSH Merchant Gateway (TMG) service, which is based on its proven and robust TSH platform. The TSH platform has enabled digital payment use cases since 2017 with millions of tokens issued to date and serves over 100 customers across 50 countries. The TMG service is highly scalable with 100% uptime since its launch in the first quarter of 2020. Thales is a certified token applicant by network systems such as Visa and Mastercard and its TSH platform is Payment Card Industry Data Security certified Standard (PCI-DSS).
Ashish Saraf, Vice President & Country Director – India, Thales, said, “We are extremely excited to announce our diverse and versatile tokenization solutions in India. This comes at a time when the Reserve Bank of India recently notified its tokenization policy. This move will trigger positive developments in the e-commerce sector across India and help create a more secure and transparent environment for digital payments. Thales’ TMG platform offers a range of benefits such as enhanced security, enhanced user experience, elimination of false transaction declines, reduction of card skimming fraud and automatic updating of card credentials, among others. We look forward to working with the various stakeholders in the country and helping them meet the deadline of December 31, 2021 set by RBI. »
Thales technologies enable businesses and governments to deliver secure digital services to billions of people and things. In payments, Thales offers a growing range of software and services for digital banking and payment use cases. This includes strong identity verification for signing up new customers, encryption of payment data, and multiple authentication schemes, including biometrics, to access digital banking services. In India, Thales provides bank payment cards and digital banking solutions to several banks. This includes RuPay and RuPay Dual Interface certified payment card products. Thales is also the first in India to obtain Visa NCMC (National Common Mobility Card) certification.
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