Mumbai: The Reserve Bank on Thursday announced a scheme on a pilot basis for offline retail payments using cards and mobile devices to encourage customers to go for digital transactions even in those places that lack internet connectivity.
“The Reserve Bank has been encouraging entities to develop offline payment solutions. It is, therefore, proposed to allow a pilot scheme for small value payments in offline mode with built-in features for safeguarding interest of users, liability protection, etc,” it said in ”Statement on Developmental and Regulatory Policies”.
The instructions in this regard will be issued shortly, it added.
Read More ... RBI to allow offline payments through cards on pilot basis