Leading digital payment platform PhonePe has introduced a new feature: device tokenization solutions for credit and debit cards. PhonePe users can now tokenize their cards directly within the app. This enables seamless transactions for bill payments, recharges, travel bookings, insurance purchases, and PIN code-based payments.

Tokenizing cards through PhonePe offers several benefits. Users no longer need to save their card details on merchant platforms for every transaction. Additionally, entering CVV details repeatedly is no longer required, as stated by PhonePe. Tokenized cards are securely linked to the user's device, minimizing the risk of fraud. This enhances trust and security for users when making online payments.

Initially, users can tokenize Visa credit and debit cards, according to PhonePe. Cards can also be tokenized on online merchants integrated with the PhonePe payment gateway.