PhonePe Introduces New Security Feature for Users

PhonePe, a leading digital payments platform, has launched a new security feature aimed at enhancing user safety. The company has introduced device tokenization solutions for credit and debit cards, allowing PhonePe users to tokenize their cards within the app. This feature enables secure transactions for bill payments, recharges, travel bookings, insurance purchases, and PIN code-based payments.

By tokenizing their cards, PhonePe users can enjoy multiple benefits, including enhanced security and convenience. With this update, users no longer need to store their card details on merchant platforms or enter CVV information for each transaction, as confirmed by PhonePe. The company emphasized that securely linking tokenized cards to a device helps prevent fraud, thereby increasing trust in online payments.

Initially, users can tokenize Visa credit and debit cards, with the service available for online merchants integrated with PhonePe’s payment gateway.