With an objective of giving push to digital transactions, especially in areas with poor or weak internet or telecom connectivity (semi-urban/rural areas); RBI has today placed on its website the ‘Framework for facilitating small value digital payments in offline mode’ effective immediately.
Key features:
An offline digital payment does not require internet or telecom connectivity;
Payments can be carried out face-to-face (proximity mode) using any channel or instrument like cards, wallets, mobile devices, etc;
No Additional Factor of Authentication required. Alerts by way of SMS and / or e-mail will be received by the customer after a time lag.
Transactions are subject to a limit of ₹200 per transaction and an overall limit of ₹2000 for all transactions until balance in the account is replenished;
Balance replenishment can only occur in an on-line mode;
Customers shall enjoy protection under the provisions of circulars limiting customer liability issued by RBI and will also have recourse to Ombudsman;