EaseMyTrip.com, Yatra.com, and others Enable Razorpay's Multi-Network TokenHQ Ahead of RBI's 30th June Deadline

Razorpay has successfully onboarded over 2 Lakh merchants on TokenHQ - its card tokenisation solution TokenHQ enabled businesses don't have to change their existing payment flows Razorpay, India's Leading Payments and Banking Platform for Businesses, has partnered with leading businesses like Yatra, EaseMyTrip, and others in enabling their customers to continue transacting using saved cards through India's First Multi-network Card Tokenisation solution, Razorpay TokenHQ. The fintech major was the first payment gateway to launch its tokenization solution in October'21, across all the three major card networks: Visa, Mastercard, Rupay, and will soon go live on other two networks, Diners Club and American Express. As per RBI's mandate, all stakeholders are required to ensure full compliance with the tokenisation framework by 30th June 2022. In a bid to further enhance the safety of online transactions, the new guidelines set by RBI allow only card networks & card issuers to store customer card information, while businesses can use tokens to offer a saved card experience during online payments. This is done through a process called Card-On-File (COF) tokenization: sensitive cardholder data is converted into a string of randomly generated numbers called a "token". A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing. This will help cut the chances of card information leakage. As the 30th June deadline for businesses to comply with these guidelines is fast approaching, Razorpay is witnessing a huge uptick in the number of merchants enabling TokenHQ. Razorpay has successfully onboarded over 2 Lakh merchants on TokenHQ. Businesses that are using Razorpay checkout will have to make zero changes on their end, TokenHQ will do all the heavy lifting for each business and they don't have to change their existing payment flows. Speaking of Razorpay's readiness to meet the upcoming deadline, Khilan Haria - SVP & Head of Payments Product, Razorpay, said, "100% of our partner businesses are live on TokenHQ and see this as a net positive move for them in the long-run as tokenisation will help bring more customers into the digital payments ambit. Our TokenHQ solution is designed in a seamless way so that our partner businesses do not need to make any new changes to their existing payment flows. I believe this will be a turnkey solution for businesses, allowing their end customers to continue experiencing the convenience of saved card transactions with added security. It's our endeavor to enable businesses with the right understanding of why this move is the need of the hour, how this is a critical step to combat theft and fraudulent transactions and help businesses seamlessly navigate through the first few weeks of the mandate kicking in." Commenting on the partnership, Manish Amin - Co-founder & CTO, Yatra.com said, "It is our constant endeavor to provide businesses and consumers with 100% transaction security without any compromise in the user experience. This partnership with Razorpay to provide tokenization solutions for Visa, Mastercard, Rupay cards to our customers is a step towards further strengthening and providing a seamless payment experience. At Yatra.com, we believe that having immediate access to secure contactless payment options is critical for businesses today. This partnership will enable users state-of-the-art security for card payments with added simplicity and convenience. We are excited to build upon our partnership with them while being RBI compliant and work on additional capabilities in the coming years." With card tokenisation consumers no longer need to fear saving their card details. There will be no change in the cardholder experience, except for an explicit consent that will be collected for tokenisation. Being compliant with the latest RBI guidelines and regulations, TokenHQ will help businesses create, process, delete and modify tokens for online card payments with the consent of the customers. Businesses with customized setups can start integrating Razorpay TokenHQ immediately via Razorpay developer-friendly APIs. About Razorpay Razorpay, a full-stack financial services company helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to over 8Mn businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley's largest tech accelerator, Y Combinator. Marquee investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Sal

Jun 14, 2022 - 20:24
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EaseMyTrip.com, Yatra.com, and others Enable Razorpay's Multi-Network TokenHQ Ahead of RBI's 30th June Deadline
  • Razorpay has successfully onboarded over 2 Lakh merchants on TokenHQ - its card tokenisation solution

  • TokenHQ enabled businesses don't have to change their existing payment flows

Razorpay, India's Leading Payments and Banking Platform for Businesses, has partnered with leading businesses like Yatra, EaseMyTrip, and others in enabling their customers to continue transacting using saved cards through India's First Multi-network Card Tokenisation solution, Razorpay TokenHQ. The fintech major was the first payment gateway to launch its tokenization solution in October'21, across all the three major card networks: Visa, Mastercard, Rupay, and will soon go live on other two networks, Diners Club and American Express. As per RBI's mandate, all stakeholders are required to ensure full compliance with the tokenisation framework by 30th June 2022.

In a bid to further enhance the safety of online transactions, the new guidelines set by RBI allow only card networks & card issuers to store customer card information, while businesses can use tokens to offer a saved card experience during online payments. This is done through a process called Card-On-File (COF) tokenization: sensitive cardholder data is converted into a string of randomly generated numbers called a "token". A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing. This will help cut the chances of card information leakage.

As the 30th June deadline for businesses to comply with these guidelines is fast approaching, Razorpay is witnessing a huge uptick in the number of merchants enabling TokenHQ. Razorpay has successfully onboarded over 2 Lakh merchants on TokenHQ. Businesses that are using Razorpay checkout will have to make zero changes on their end, TokenHQ will do all the heavy lifting for each business and they don't have to change their existing payment flows.

Speaking of Razorpay's readiness to meet the upcoming deadline, Khilan Haria - SVP & Head of Payments Product, Razorpay, said, "100% of our partner businesses are live on TokenHQ and see this as a net positive move for them in the long-run as tokenisation will help bring more customers into the digital payments ambit. Our TokenHQ solution is designed in a seamless way so that our partner businesses do not need to make any new changes to their existing payment flows. I believe this will be a turnkey solution for businesses, allowing their end customers to continue experiencing the convenience of saved card transactions with added security. It's our endeavor to enable businesses with the right understanding of why this move is the need of the hour, how this is a critical step to combat theft and fraudulent transactions and help businesses seamlessly navigate through the first few weeks of the mandate kicking in."

Commenting on the partnership, Manish Amin - Co-founder & CTO, Yatra.com said, "It is our constant endeavor to provide businesses and consumers with 100% transaction security without any compromise in the user experience. This partnership with Razorpay to provide tokenization solutions for Visa, Mastercard, Rupay cards to our customers is a step towards further strengthening and providing a seamless payment experience. At Yatra.com, we believe that having immediate access to secure contactless payment options is critical for businesses today. This partnership will enable users state-of-the-art security for card payments with added simplicity and convenience. We are excited to build upon our partnership with them while being RBI compliant and work on additional capabilities in the coming years."

With card tokenisation consumers no longer need to fear saving their card details. There will be no change in the cardholder experience, except for an explicit consent that will be collected for tokenisation.


Being compliant with the latest RBI guidelines and regulations, TokenHQ will help businesses create, process, delete and modify tokens for online card payments with the consent of the customers. Businesses with customized setups can start integrating Razorpay TokenHQ immediately via Razorpay developer-friendly APIs.

About Razorpay

Razorpay, a full-stack financial services company helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to over 8Mn businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley's largest tech accelerator, Y Combinator. Marquee investors such as Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Sequoia Capital India, Ribbit Capital, Matrix Partners, Salesforce Ventures, Y Combinator and MasterCard have invested a total of USD 741.5 Mn through Series A, B, C, D, E & F funding. A few angel investors have also invested in Razorpay's mission to simplify payments and banking and redefine how finance works in India.

TBS Staff TBS Staff