RBI has proposed to introduce a framework for carrying out retail digital payments in offline mode across the country. The new framework would provide fillip to new technologies such as E-RUPI, Near Field Communication (NFC)payments, interactive voice response-based payments systems etc.
Highlights of new framework
- An offline payment means a transaction which does not require internet or telecom connectivity.
- Offline payments may be made using any channel or instrument like cards, wallets, mobile devices, etc.
- Offline payments shall be made in proximity (face to face) mode only.
- Offline payment transactions may be offered without Additional Factor of Authentication (AFA) such as OTP.
- Transactions are subject to a limit of Rs 200 per transaction and an overall limit of Rs 2,000 for all transactions until the balance in the account is replenished. Balance replenishment can only occur in an online mode.