Travel Industry Gets Extension On India Payment Tokenization

December 22, 2022

After several delays, India's central bank this fall enacted payment security rules prohibiting the storage by merchants of customers' credit card details. Instead, digital tokens would stand in. Not entirely ready, the travel industry got an extension, to June 2024, to work out how to use tokens when intermediaries like GDSs, TMCs and OBTs are involved in transmitting customer info.

Part of India's Ministry of Finance, the Reserve Bank of India implemented the rules on Sept. 30. Without the additional extension for travel transactions, travel management operations faced disruption.

RBI went for tokenization . . .

The full content is available to subscribers

Reminder: As per our Subscriber Agreement, reproduction or distribution of content and sharing user names and passwords are strictly prohibited.

Source link

Score LA is a website dedicated to the sprawling California city in the south, which happens to be the heart of the United State's movie and TV industry. Near the iconic Hollywood sign stands the studios Paramount Pictures, Universal, and Warner Brothers, along with others that also give behind-the-scenes tours.
Additional Information
Copyright © 2023 Score LA. All Rights Reserved. Protection Status