RuPay Brings CVV-Less Payments for Tokenised Cards on Supported E-Commerce Merchants

This new CVV-less experience ensures that the cardholder will not have to reach out to their wallet or remember any card details.

By Press Trust of India | Updated: 15 May 2023 15:03 IST

Photo Credit: Reuters

Customers can complete payments by just entering the OTP without the need to enter the CVV

Highlights

RuPay’s debit, credit and prepaid cardholders can avail CVV-free payments
NPCI announced the feature on Monday
Tokenisation doesn’t share real card details with the merchants

The National Payments Corporation of India (NPCI) on Monday said RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage.

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, NPCI said in a statement.

Tokenization is a simple technology to secure card transactions without sharing the clear or real card details with the merchants.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

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 one-time activity followed by entering the OTP (two-factor authentication), the details are then Tokenized and saved with the merchant, it said.

This safeguards the card details of the customer from cyber frauds as real details are not saved with the merchant.

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, it said.

RuPay Card, UPI Can Now Be Used for E-Commerce Payments Globally

RuPay, the homegrown card network developed by NPCI, 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.

Google I/O 2023 saw Google tell us repeatedly that it cares about AI, alongside the launch of its first foldable phone and Pixel-branded tablet. This year, the company is going to supercharge its apps, services, and Android operating system with AI technology. We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.