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11th Jan : Current Affairs ( in Tamil )
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What is tokenisation? What are the advantages? How to get token? Concepts of Security and Privacy

S Vijay Jagadeesh
YouTube-Victor Growth IAS | UPSC CSE Interview TWiCE |Current Affairs,Geography,History,Polity,Economics,IR.

U
Unacademy user
great work mam thank you very much
sir please take any crash course Tnpsc group 1 sir thank you very much.
Yes sir.. coming
Valiant Vijay
a year ago
thank you sir and thank you for response.
Thank you sir WISHES ADVANCE HAPPEY PONGAL NALVAZTHUKKUAL SIR *************
  1. About Me B.Tech in Petro Chemical from Anna University Cleared 5 Prelims and Two Mains and appeared Two times in Civil Service Interview . . IAS Mentor since 2010 Specialist in Geo, Polity, History, Economic Survey, Current Affairs Follow me on https://unacademy.com/user/Svijaylagadeesh e S VIJAY JAGADEESH


  2. Rules of My Videos Its not movie, u watch and go Sit like you in classroom with note books Take notes as I give more information than what is in the slides Comment your doubts , I will clarify as early as possible . . I will clear as soon as possible S VIJAY JAGADEESH


  3. TOKENISATION


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  5. Why in news? RBI proposed no charges from the customer for availing tokenisation service


  6. What is Tokenisation? * Tokenisation enables banks, acquirers and merchants to offer more secure(mobile) payment service Tokenization is a process through Which sensitive information or data is replaced with a unique set of characters that retain all the essential information without compromising the security of the sensitive information


  7. What is Tokenisation? In the payments space, tokenization is the process of replacing the 16-digit payment card account number with a unique digital identifier known as a 'token' in mobile and online transactions. This token then allows pavments to be processed without exposing sensitive account details that could breach security and privacy It is the process of replacing card number with alternative values . . The original personal account number is disconnected and replaced with a unique identifier called a payment token


  8. Important fact:s The Reserve bank of India (RBI) has allowed all card payment networks to offer tokenisation service without any charges. * Tokenisation involves a process in which a unique token masks sensitive card details. The token is then used to perform card transactions in contact-less mode at Point of Sale (POS) terminals, Quick Response (QR) code payments, etc


  9. How does tokenisation works? . Consumer credit cards come with names, 16- digit personal account numbers (PANs), expiration dates and security codes - any of which can be "tokenized." . When a merchant swipes a customer's credit card, the PAN is automatically replaced with a randomly generated alphanumeric ID ("token")


  10. How does tokenisation works? . Original PAN never enters the merchant's payment system. Only the token ID does. The merchant can use this special token ID to keep records of the customer * This token then gets transmitted to the payment processor who de-tokenizes the and authorizes payment ID


  11. How can we use tokens? In order to use tokenisation, a bank or merchant should become a token service (TSP)provider credencial including: Replaces a PAN with a payment token . A TSP manages the entire lifecycle of payment 1.Tokenisation:


  12. How can we use tokens? 4.Domain Management: Improves protection by defining payment token for specific use 5. Identification and verification: Ensures original PAN is legitimately used by the token requister


  13. Thanks