New Delhi, Oct 7 (TIWN) Digital payments firm Visa on Wednesday launched Card-on-File (CoF) tokenization services in India in line with the recently issued guidelines by the Reserve Bank of India (RBI) to secure customers' financial data.

Visa's card tokenisation service is currently available with ecommerce platforms such as Grofers, Bigbasket and MakeMyTrip.  "Having launched CoF tokenization services in over 130 countries globally, we are confident of the technology's ability to build a safe, secure and seamless environment for digital payments," TR Ramachandran, Group Country Manager, India and South Asia, Visa, said in a statement.  Tokenisation is the process of replacing credit or debit card details with a unique set of characters or a 'token' that enables payments to be processed without exposing any sensitive account details that could potentially breach security and privacy of the consumers.