PhonePe launches device tokenisation for credit and debit card transactions

PhonePe on Monday rolled out a device tokenisation solution for credit and debit cards to enable users to tokenise them on the company’s application, and use it seamlessly across various services on its platform like bill payments, recharges, booking travel tickets etc.

It comes weeks after the Fintech major announced a plan to directly integrate its payments solutions for its merchants. PhonePe is first among companies which decided to offer direct solutions to customers without the need of a merchant’s reliance on third party payment orchestration platforms.