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RBI allows offline digital payment, you will be able to make payment without internet, know details

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RBI allows offline digital payment, you will be able to make payment without internet, know details

The Reserve Bank of India has clarified that offline payments can be used only after the permission of the customers.

The Reserve Bank of India (RBI) on Monday released a framework to promote digital transactions in villages and towns. Under this, RBI has allowed offline payment up to Rs 200 per transaction. Its overall limit has been fixed at Rs 2,000. Offline digital payment refers to a transaction that does not require internet or telecom connectivity. Face-to-face payment in offline mode can be done through any medium like card, wallet and mobile device.

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RBI said that Additional Factor of Authentication (AFA) will not be required for these transactions. Since the payment in these will be offline, customers will get ‘alert’ after some time through SMS or e-mail. RBI has said, “There will be a limit of Rs 200 for each transaction and its total limit will be Rs 2,000.”

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implemented on pilot basis

The central bank said that offline transactions were started on a pilot basis during September, 2020 to June, 2021 in different parts of the country. Based on the feedback received on this, this framework has been prepared. The Reserve Bank said, “Offline transactions will encourage digital transactions in areas with weak internet connectivity.” Especially in villages and towns. This arrangement has come into force with immediate effect.

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