PayU launches ‘PayU Token Hub’ to help businesses comply with RBI norms

PayU, a leading online payments solutions provider, announced the launch of its unique tokenisation solution ‘PayU Token Hub’, which will enable businesses to comply with Reserve Bank of India’s (RBI’s) latest guidelines on online card data storage, while allowing issuing banks to also generate their own tokens. This solution has been built by PayU and Wibmo, a PayU-owned full stack global PayTech company, in partnership with major card networks such as Visa and MasterCard, and leading issuing banks. The solution offers both network tokens and issuer tokens under single hub.

“We welcome the new RBI guidelines, as they empower the customer and ensure safer transactions.