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Expectations for Tokenisation of Cost Playing cards and Storage of PANs | Media Releases Categorical Instances

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The Financial institution has launched a closing set of expectations for the Tokenisation of Cost Playing cards and Storage of
Major Account Numbers (PANs), aimed toward bettering safety, effectivity and competitors for on-line card
funds. The important thing expectations the Financial institution has set are:

  • All related business individuals ought to assist token portability and token synchronisation
    by the top of June 2025.
    To hyperlink a number of tokens and support token synchronicity, a novel
    account identifier, such because the Cost Account Reference (PAR), ought to be extensively shared and used
    all through the Australian funds ecosystem.
  • Retailers and fee service suppliers that don’t meet minimal safety necessities
    regarding the storage of delicate debit, credit score and cost card data should not retailer
    clients’ PANs after the top of June 2025.
    This deadline is conditional on token
    portability and token synchronisation being supported by related business individuals by the top of
    June 2025. The minimal safety necessities ought to be not less than compliance with the Cost Card
    Trade Knowledge Safety Normal (PCI-DSS).
  • The rollout of the eftpos core eCommerce tokenisation service is to be accomplished by the top
    of March 2024
    , with additional releases to assist token portability and synchronisation to
    comply with. When a twin community debit card is community tokenised, tokens ought to be requested and saved
    for each the home and worldwide networks, the place supported by each networks.

AusPayNet has agreed to coordinate the business’s work to satisfy the Financial institution’s expectations and draft
extra particular tokenisation requirements if required.


The Financial institution launched an Points
Paper in June 2023 which mentioned the significance of the tokenisation of card particulars within the
on-line setting for bettering the safety of funds. Nonetheless, the paper additionally famous that retailers
and fee service suppliers proceed to retain delicate card particulars, generally with minimal safety,
which undermines the safety advantages of tokenisation. Stakeholders had additionally argued that there have been some
areas the place standardisation could also be needed to make sure that the complete advantages of tokenisation are
realised with out impeding competitors. Accordingly, following a spherical of session with business
stakeholders, the Financial institution printed a set of draft expectations in a Conclusions
Paper in September 2023, aimed toward addressing these points. The Financial institution subsequently acquired
suggestions on these draft expectations, in addition to the suitable scope of playing cards to be coated by the

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