Fortanix Simplifies Compliance with Reserve Bank of India (RBI) Guidelines for Data Tokenization of User Card Data

Fortanix® Inc., the data-first multicloud security company, today announced that businesses operating in India that store payment information and user card data can now quickly comply with the latest Reserve Bank of India (RBI) guidelines using Fortanix Data Security Manager (DSM) to tokenise and secure card data. The Reserve Bank of India updated its data tokenization guidelines on 7 October 2021 effectively prohibiting merchants from storing actual card data beyond 31 December 2021.

The RBI guidelines mandate new, stronger security requirements for card data, calling out data tokenization as a recommended security strategy. Data Tokenization refers to the replacement of actual card information with a unique and random string of characters called “tokens” that can be used in place of sensitive data, while the actual sensitive data is encrypted for safe keeping. Tokens are a proven and safer way of processing payment transactions and minimise disruptions and inconvenience to card holders.

Fortanix DSM provides data tokenization, key management, cryptography and other security services in a single unified solution. SaaS delivery enables advanced security to be up and running in minutes, while minimising operational burdens. On-premises deployment is also available for specialized use cases. Fortanix DSM is available as an annual subscription service from Fortanix authorised resellers.

“Security of consumers’ personal and financial information is paramount, and the RBI guidelines are an important step in preserving it,” said Ambuj Kumar, CEO and Co-founder of Fortanix. “Fortanix DSM makes it simpler and easier for anyone who stores payment information and card data to keep that data secure as they protect their customers.”

Resources

• Read the RBI Guidelines.
• Download an eBook to learn more about the key takeaways.
• Register for a Fortanix webinar that dives deeper into the RBI guidelines and covers best practices in data tokenization
• Blog: The Data Protection Act of India

About Fortanix:

Fortanix® is a data-first multi-cloud security company solving the challenges of cloud security and privacy. Data is the most precious digital asset of businesses, but this data is spread across clouds, SaaS, applications, storage systems and data centers. Security teams struggle to track, much less secure it. Fortanix empowers customers to secure all this data with a centralised solution. Its pioneering Confidential Computing technology means data remains protected at-rest, in-motion and in-use, keeping it secure from even the most sophisticated attacks. For more information, see https://fortanix.com/.