MUMBAI:
RuPay, India’s own homegrown card network serving millions of Indians
across every nook and corner, is driven by the idea of solving and reducing friction for customers.
RuPay went live on Card on File Tokenization in 2021, in line with RBI’s guidelines, for its domestic
ecommerce transactions to ensure better security for all its cardholders. To refine the experience
further, RuPay has now introduced the CVV (Card Verification Value) free payment experience for its
Debit, Credit & Prepaid cardholders who have tokenized their cards on the merchant application or
webpage. Tokenization is a simple technology to secure card transactions without sharing the clear or
real card details with the merchants.
When a cardholder opts to save their card for a domestic ecommerce transaction, they authenticate
the transaction through the card details (Card number, CVV, Card expiry date) as a onetime activity
followed by entering the OTP (two-factor authentication), the details are then Tokenized and saved
with the merchant. This safeguards the card details of the customer from cyber frauds as real details
are not saved with the merchant. On the merchants live for CVV less payments, for the subsequent
transactions customer can complete the payment by just entering the OTP without the need to enter
the CVV or other card details again. With the auto read OTP feature enabled on customer’s devices,
this payment experience becomes smoother than ever. This feature has been made live along with
RazorPay for merchants like Rapido, Porter, etc. RuPay is further working with major
aggregators/gateways like PayU, CyberSource, Firstdata, Paytm, etc. to extend this feature to other
merchants.
Denny Thomas, Head RuPay said, “Our vision has always been to ensure effortless payments for all
our RuPay cardholders without compromising on the security aspect. Having worked with the
payments industry extensively for implementation of Card on File Tokenization, which ensures utmost
security of sensitive card information, now we are aiming at making the payment experience of a
tokenized card seamless.”
This new CVV less experience ensures that the cardholder will not have to reach out to their wallet or
remember any card details, if they have saved (tokenized) their card on the ecommerce merchant
which supports this feature. They will just have to enter the OTP or their device will auto populate the
OTP during the domestic ecommerce transaction and the payment will be done!
