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Thales' ‘Trusted Merchant Gateway’ to Support RBI Mandated Tokenization in India - Thales has announced that it is bringing its TSH Merchant Gateway (TMG) tokenization platform to further contribute towards securing the digital payment ecosystem of India - ThalesGroup.com
Thales' ‘Trusted Merchant Gateway’ to Support RBI Mandated Tokenization in India

 

PRZOOM - /newswire/ - Paris, Ile-de-France, France, 2021/12/14 - Thales has announced that it is bringing its TSH Merchant Gateway (TMG) tokenization platform to further contribute towards securing the digital payment ecosystem of India - ThalesGroup.com. Euronext: HO

   
 
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• The Thales’ Trusted Merchant Gateway (TMG) support organisations in India to meet the Reserve Bank of India (RBI) mandated tokenisation guidelines.
• Thales implemented a state of the art cloud native service to deliver all the benefits of tokenization to merchants with secure payment gateways.
• The services are set to bring both convenience and security to the end users’ payment experience.

With the aim of further helping the card issuers to protect sensitive data by substituting it with non-sensitive data, the tokenisation solution by Thales ensures enhanced security for all stakeholders in India.

The Reserve Bank of India (RBI) has recently issued a circular for the device-based tokenisation framework extending to Card-on-File Tokenisation (CoFT) services and making EMV tokenization mandatory from 1 January 2022. This implies that no entity in the card transaction and payment chain (other than the card issuers and/or card networks) shall store the actual card data. With this, card issuers have been permitted to offer card tokenisation services as Token Service Providers (TSPs).

The merchants, aggregators and payment gateways can benefit from the expertise of technical leaders like Thales to become compliant with this RBI mandate and offer more secure payment services to their customers in India. And hence, Thales has introduced its TSH Merchant Gateway (TMG) service, which is built over its proven and robust TSH platform. The TSH platform has been enabling digital payment use cases since 2017 with millions of tokens issued till date and is serving more than 100 customers spread over 50 countries. The TMG service is highly scalable with 100% uptime since its launch in Q1 2020. Thales is a certified token requestor by network schemes including Visa & Mastercard and its TSH platform is Payment Card Industry Data Security Standard (PCI DSS) certified.

“We are extremely delighted to announce our diverse and versatile solutions for tokenization in India. This comes at a time when the Reserve Bank of India has recently notified its tokenization policy. This move will set in motion positive developments in the eCommerce sector across India and help in building a safer and seamless environment for digital payments. Thales’ TMG platform offers a range of benefits such as improved security, enhanced user experience, elimination of false transaction declines, reduction in card skimming fraud and automatic card credentials update amongst others. We look forward to working with different stakeholders in the country and help them meet the deadline of 31 December 2021 set by RBI.” Ashish Saraf, VP and Country Director India, Thales

Thales’ technologies have been enabling businesses and governments to deliver secure digital services for billions of individuals and things. In the field of payments, Thales provides a growing range of software and services for digital banking and payment use cases. This includes strong identity verification for enrolling new customers, payment data encryption, and multiple authentication schemes, including Biometrics, to access digital banking services. In India, Thales provides banking payment cards and digital banking solutions to several banks. This includes RuPay and RuPay Dual Interface certified payment card products. Thales is also the first in India to get certified for Visa NCMC (National Common Mobility Card).

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations connectivity, big data, artificial intelligence, cybersecurity and quantum computing to build a confident future crucial for the development of our societies. The Group provides its customers businesses, organisations and governments in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.
Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.

About Thales in India

Present in India since 1953, Thales is headquartered in Noida and has other operational offices and sites spread across Delhi, Gurugram, Hyderabad, Bengaluru and Mumbai, among others. Over 1,800 employees are working with Thales and its joint ventures in India. Since the beginning, Thales has been playing an essential role in India’s growth story by sharing its technologies and expertise in Defence, Transport, Aerospace and Digital Identity and Security markets. Thales has two engineering competence centres in India - one in Delhi NCR focused on digital identity and security business, while the one in Bengaluru focuses on hardware, software and systems engineering capabilities for both the civil and defence sectors, serving global needs.

Contact: Anuradha CHAWLA, Chase India
P: +91 98 9996 5560 - E: anuradha[.]chase-india.com.

 
 
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Agency / Source: Thales Group

 
 

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Thales' ‘Trusted Merchant Gateway’ to Support RBI Mandated Tokenization in India

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Trusted Merchant Gateway | Thales
Contact: Pawandeep Kaur - ThalesGroup.com 
+91 12 0402 0555 pawandeep.kaur[.]thalesgroup.com
 
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