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September 22, 2020

Google, Visa roll out tokenised card-based payments feature in India

Google has teamed up with Visa for the tokenisation of its payments platform Google Pay that will allow users to pay using their debit and credit cards securely.

Tokenisation enables users of Google Pay Android to use their debit or credit card to make payments through a secure digital token linked to their phone, without requiring them to physically share details of their credit or debit card, reported PTI

Furthermore, Google Pay will also facilitate tap-to-pay feature on point of sale (POS) terminals enabled with near-field communication (NFC) technology, and at online merchants.

Through the partnership with Visa, Axis Bank and SBI Card customers currently have access to this feature.

Later, it will be available to more banks, including Kotak Bank.

Visa India and South Asia group country manager TR Ramachandran was quoted by the news agency as saying: “It is the culmination of months of collaboration between Google and Visa that has helped us roll out this global first initiative for Google Pay in India.

“Made in India for millions of mobile-first consumers, there couldn’t have been a better time to introduce this tokenised and contactless form of payment.”

SBI Card MD and CEO Ashwini Kumar said: “As smartphone penetration in India soars, credit cards have also changed form to reside securely on the mobile phone and our partnership with Google opens up a new, secure and seamless payment route for our customers using smartphones.”

For online merchants, the feature offers an OTP-based experience without redirects to 3D secure sites.

Users can enable the tap and pay feature by entering their card details and an OTP generated will be sent to their registered mobile number. Once they add the card to the Google Pay app, they can use the contactless payment feature at NFC-enabled terminals and online merchants.

Users can make contactless payments at more than 2.5 million merchant locations accepting Visa and ‘scan and pay’ at over 1.5 million Bharat QR-enabled merchants across India. They can use their saved cards on Google Pay to make bills and recharges.

Google Pay business head Sajith Sivanandan said: “We are committed to offering the most secure payments experience to our growing base of users, and tokenisation helps to replace sensitive data such as credit and debit card numbers with tokens, eliminating any chances of fraud.”

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