PhonePe SafeCard enables businesses to implement tokenization more quickly and easily

Bengaluru, November 30, 2021: PhonePe, India’s leading digital payments platform today announced that its SafeCard tokenization solution for online businesses enables their end customers to experience the convenience of saved card transactions with added security. This solution is in compliance with the recent RBI guidelines.

PhonePe SafeCard enables businesses to offer tokenization on their own platforms via a simple API integration. With this solution, businesses can create, process, delete and modify tokens for online card payments with a customers’ consent. PhonePe SafeCard enhances customer experience and saves businesses significant time and effort, by working smoothly across all major card networks including Mastercard, RuPay and Visa. It also removes the need for integration with multiple card networks.

Here’s how PhonePe SafeCard offers businesses an edge:

1. It gives them a headstart over competition by utilising access to millions of PhonePe customers’ tokenized cards. PhonePe also takes care of any additional authentication for users, if needed. 
2. It enables a smooth and hassle-free experience for customers through login and payments with additional features. 
3. Merchants get a dedicated and secured vault in a PCI-DSS (Payment Card Industry – Data Security Standard) compliant environment. Transactions on the merchant platform can be processed using any payment gateway chosen by the business, while they have the flexibility to process transactions with the payment gateway of their choice.

PhonePe is working actively with its large base of online businesses to help them elevate their customer experience by adopting the PhonePe SafeCard.

About PhonePe:

PhonePe is India’s leading digital payments platform with over 335 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments and also buy and invest in gold and silver. PhonePe forayed into financial services in 2017 with the launch of gold providing users with a safe and convenient option to buy 24-karat gold, and recently also launched silver on its platform. PhonePe has since introduced several Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is also accepted at 22+ million merchant outlets across India.

For more details: [email protected]