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Cashfree Payments Announces Token Vault Will Offer Interoperability In Card Tokenisation

Businesses will no longer need to spend time integrating with multiple token service providers to tokenise cards and execute transactions

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Cashfree Payments on Wednesday announced that its tokenisation solution, ‘Token Vault’ will offer interoperability in card tokenisation. Token Vault’s interoperability feature will help businesses who use multiple payment gateways to process tokenised card transactions across any payment gateway and card network of their choice.

Cashfree Payments’ Token Vault is among the first few tokenisation solutions to offer this feature. Additionally, with the introduction of the interoperability feature, businesses using Cashfree Payments’ Payment Gateway can integrate with Token Vault to securely tokenise the cards issued by all major card networks including RuPay, Visa and Mastercard. While interoperability in card networks is already offered by multiple token service providers, interoperability in payment gateways offered by Token Vault will change the way tokenisation will impact businesses.

As a result, businesses will no longer need to spend time integrating with multiple token service providers to tokenise cards and execute transactions. With a single integration with Cashfree Payments’ Token Vault, businesses can stay RBI compliant, by tokenising customers’ cards at the time of checkout and in future process these saved card transactions through any payment gateway partner or card network. 

Akash Sinha, CEO & Co-Founder, Cashfree Payments said, "At Cashfree Payments, we are proud to be among the first in the industry to launch the interoperability feature in card tokenization through ‘Token Vault’.  With Token Vault’s interoperability feature, we want to empower businesses and merchants to manage saved card transactions across any card network or payment gateway, using a single tokenisation service. They will not be dependent on any particular payment gateway for transactions with ‘Token Vault’. We are happy to share that our merchants have already started going live on tokenisation. At Cashfree Payments, our main objective is to create products that will help rebuild the payments’ infrastructure for increased ease and efficiency.”

Tags assigned to this article:
Card Tokenisation Token Vault Cashfree Payments