The Reserve Bank of India (RBI) on January 3, 2021 released a framework for offline digital payments. The framework has following features:
- The upper limit of an offline payment transaction will be Rs 200, the overall limit Rs 2,000 on a payment instrument at any point in time until the balance in the account is replenished.
- Offline payments can be made using any channel or instrument like cards, wallets, and mobile devices.
- An offline payment means a transaction not requiring internet or telecommunication (telecom) connectivity to take effect.
- Payments can be carried out face to face using any channel or instrument like cards, wallets, mobile devices, etc.
- Transactions would not require an Additional Factor of Authentication.
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