Card on File Tokenisation and impact on Privacy / Security

Thread on upcoming change to all saved cards in merchant websites and its impact on security, privacy.

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There are some troubling concerns regarding classification of PAR as PII (coupled with lack of privacy legislation in India). Read EMV® Payment Tokenisation - Frequently Asked Questions (FAQ) – Payment Account Reference (PAR) from FAQ: EMV® Payment Tokenisation Specification – Technical Framework v2.3 FAQ – General and Technical Questions - Payment Tokenisation - EMVCo and this is the global standard.