Worldline, the European leader in payments and transactional services and market leader in India announced the launch of its unique ‘Tokenisation Solution’ to enable businesses to comply with the RBI’s latest guidelines on online card data storage. Full-Service Tokenisation solution by Worldline is built in partnership with major card networks including Visa, Mastercard and RuPay along with leading issuing banks.
Worldline has developed a fully interoperable plug-and-play solution to enable card on file tokenisation using single integration. Businesses will be able to enable Worldline Tokenisation solution with minimal technical upgrades and continue to offer seamless payment experience to their customers in compliance with the latest guidelines.
Commenting on the development, Jagdish Kumar, VP – Products & Solution, Digital Commerce, Worldline India, said: “Full-Service Tokenization Solution by Worldline offers a holistic solution that would cover token provisioning along with tokenized transaction processing. It offers complete coverage for merchants, as it is integrated with all payment networks and issuers directly. Merchants can provision, manage tokens and customer’s consent from a single interface. The RBI’s guidelines on tokenization will help to boost greater customer confidence in cards as a payment method and encourage the adoption of digital payments. From a long-term perspective, these guidelines will be very beneficial for all the stakeholders involved in the payment ecosystem, as it will not only open possibilities to reach inactive card customer base, but also help in businesses to enhance data security without compromising on customer experience.”
Worldline Tokenization Solution has partnered with major card networks including Visa, Mastercard, RuPay, and Amex (in pipeline) as well as all leading issuing banks. It supports the issuance and management of both issuer and network tokens under a single interface.
It is a single solution that connects to different networks viz. Visa, Mastercard, RuPay and Amex (in pipeline).A full-stack solution with token provisioning and authorization support with very few modification/development efforts in existing integration. The solution comes with both immediate/one-time payments and recurring payments (SI on cards) support. Thus, ensuring an end-to-end frictionless payment journey and enhanced customer experience.
