Tell me the difference in online transaction mode using debit card

Whenever you make a payment online using debit or credit cards, you have to enter your card details, including the card number, your name, expiry date and the three-digit CVV. These card details are stored by the merchant’s platforms using masking and other security measures.

In cases where merchants use payment processors directly instead, the card details are stored by those processors.

In tokenization, your card number is replaced by a random token number. The payment processors and banks have systems in place to map your card number to the token number, so the payment is debit and credit to the correct card holder’s account.

The next time you pay online for something using your debit or credit card, the payment processor will ask you if you want to “Save card as per RBI guidelines” or “Secure your card”.

Click on save and enter the OTP you receive on your mobile number.

That’s it, your card is now tokenized.

Thanks for sharing this. It really helps to understand how online debit card transactions work.