Fortanix Simplifies Compliance With Reserve Bank of India (RBI) Guidelines for Tokenisation of User Card Data

By AIT News Desk On Oct 21, 2021

Tokenisation-as-a-Service with Fortanix DSM enables speedy deployment, and minimizes disruption for businesses and consumers alike

Fortanix Inc., the data-first multicloud security company, announced that businesses operating in India that store payment information and user card data can now quickly comply with the latest Reserve Bank of India (RBI) guidelines using Fortanix Data Security Manager (DSM) to tokenise and secure card data. The Reserve Bank of India updated its tokenisation guidelines on 7 October 2021 effectively prohibiting merchants from storing actual card data beyond 31 December 2021.

“Fortanix DSM makes it simpler and easier for anyone who stores payment information and card data to keep that data secure as they protect their customers.”

The RBI guidelines mandate new, stronger security requirements for card data, calling out tokenisation as a recommended security strategy. Tokenisation refers to the replacement of actual card information with a unique and random string of characters called “tokens” that can be used in place of sensitive data, while the actual sensitive data is encrypted for safe keeping. Tokens are a proven and safer way of processing payment transactions, and minimise disruptions and inconvenience to card holders.

Fortanix DSM provides tokenisation, key management, cryptography and other security services in a single unified solution. SaaS delivery enables advanced security to be up and running in minutes, while minimising operational burdens. On-premises deployment is also available for specialized use cases. Fortanix DSM is available as an annual subscription service from Fortanix authorised resellers.

“Security of consumers’ personal and financial information is paramount, and the RBI guidelines are an important step in preserving it,” said Ambuj Kumar, CEO and Co-founder of Fortanix. “Fortanix DSM makes it simpler and easier for anyone who stores payment information and card data to keep that data secure as they protect their customers.”

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