HDFC Bank Alert: After January 1, some rules related to your card are going to change. Now every time you make payment after January 1, you will have to enter the description of your card on the merchant website / app.
HDFC Bank Alert: HDFC Bank has issued an alert for its customers. If you are also a HDFC Bank customer, then there is an important update for you. Giving information to the customers, the bank said, ‘The description of your HDFC Bank card entered on the merchant website / app will be deleted. RBI had given orders regarding this, only after which the bank has taken this decision. The bank has given this information to its customers through a message. Let us tell you that RBI has taken this decision so that the details of the customers’ cards are safe.
Card details to be filled every time
Actually, earlier the description of the card was always submitted on the app or merchant website. But now under the new rule, customers will have to fill the full description of the card every time they make a payment. Apart from this, RBI has given the option to the customers to select the token option as well. This new rule from the bank will be applicable from January 1, 2022. Let us know what is token system.
What is token system?
Tokenization is another way to submit your card details. Under this, instead of the original card details, a unique optional code description is generated. This is called a token. Let us tell you that the Central Reserve Bank had mentioned token management for the first time in the year 2019.
Under this, the authorized card network has been allowed to provide token service on request. Token option will be available on both debit and credit cards from January 1, 2022. This is applicable for domestic transactions only. This means that this rule will not apply to international transactions.
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