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Around 80% of monthly active users on PhonePe have tokenized their cards following RBI’s tokenisation guideline and nearly 100% of eligible transactions on the app are securely processed via tokens now, PhonePe said.
On July 14, 2021, RBI had imposed restrictions on Mastercard to onboard new customer over lapses found in compliance with RBI’s 2018 circular on Storage of Payment System Data.
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