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‘SafeCard’--- Tokenisation Solution by PhonePe

Published on November 06, 2021
Current Context: PhonePe, which is the Walmart-owned digital payments firm has launched a tokenization solution to perform online debit and credit card transactions.
‘SafeCard’--- Tokenisation Solution by PhonePe
  • The name of the tokenization solution by PhonePe is ‘SafeCard’.
  • This is in line with RBI’s earlier announcement in Sep 2021 that RBI has made a device-based tokenization framework applicable to Card-on-File Tokenisation (CoFT) services too.
  • The Credit/Debit card details are stored by merchants for ease of payment because of Card-on-File (CoF).
  • Due to ‘SafeCard’ the users of PhonePe and merchant partners can experience the convenience of saved card transactions in a secured manner.
  • The solution supports all major card networks like Mastercard, Rupay, and Visa.
  • The solution will also allow PhonePe merchant partners to offer and use tokenization on their own platforms via a simple Application programming interface (API) integration.
  • Therefore they can create, process, delete and modify tokens for online card payments with customers’ consent and will thus save time for merchant partners as they will not have to integrate with multiple card networks.
  • Static Part: 
    • HQ of PhonePe: Bengaluru, Karnataka


Q.1 Which digital payment firm launched the ‘SafeCard’ tokenization solution?
a. Paytm
b. PayU
c. PhonePe
d. CCAvenue

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