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PayU Launches Tokenisation Solution ‘Payu Token Hub’

PayU Token Hub is developed as an interoperable plug-n-play solution, to enable card on file and device tokenization using a single integration point.

PayU, India’s leading online payments solutions provider, announced the launch of its unique tokenisation solution ‘PayU Token Hub’, which will enable businesses to comply with RBI’s latest guidelines on online card data storage whilst allowing issuing banks to also generate their own tokens. This solution is built by PayU and Wibmo, a PayU owned full stack global PayTech company, in partnership with major card networks including Visa, MasterCard as well as with leading issuing banks. This unique solution offers both network tokens and issuer tokens under single hub.

Powered by Wibmo, PayU Token Hub is developed as an interoperable plug-n-play solution, to enable card on file and device tokenization using a single integration point. Its unique two-pronged solution is available to all merchants, including PayU’s 3.5 lakh merchants and 65 issuers supported by Wibmo. Businesses can enable PayU Token Hub with minimal technical changes and continue to offer the best-in-class payment experience to their customers while ensuring they are compliant with the latest norms.

“We welcome the new RBI guidelines, as they empower the customer and ensure safer transactions. PayU has built the most innovative & robust solution to manage easy compliance with these guidelines for all players in the ecosystem. PayU Token Hub is fully interoperable, providing best of network and issuer tokens for card-on-file use cases extensible to device tap-and-pay. It will ensure that popular payments use cases including EMI, subscriptions, instant refunds and offers engines which rely on card numbers can continue seamlessly” said Manas Mishra, Chief Product Officer, PayU India. 

“Wibmo powers larger issuer ecosystem of over 65 banks in India for their authentication services and payment security. PayU Token Hub will help the issuers support the tokenisation guideline in a seamless and faster manner to comply with RBI mandate and support the RBI vision of protecting consumer interests. No other player in the market has such a robust combination of network and issuer tokens”, said Suresh Rajagopalan, CEO of Wibmo.

RBI mandated that only banks and networks will be allowed to store customer card data w.e.f January 1, 2022. This means that businesses will not be able to store customer card information. Card details storage being the core of a consumer’s payment experience – without which entering card details every time, will hamper online growth for businesses. While the current guidelines are specific to card data storage, PayU Token Hub will soon expand to enable businesses to safely store and create tokens across other popular payment modes like UPI and Net Banking and contactless device payments


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