New Delhi: Sometimes the payment fails during the use of a credit card or debit card. There can be many reasons for payment failure, one of which is a lack of Internet connectivity. However, now you will soon be able to make digital payments offline through card and mobile, ie without the internet. The Reserve Bank of India (RBI) on Thursday announced an offline payment scheme (offline payment through cards) on the pilot scheme (offline mode) i.e. offline payment without internet and small payment through mobile.
Youth will adopt digital payment in rural areas
The objective of this initiative is to encourage customers to do digital transactions even in places where there is a lack of internet connectivity. The RBI said in a statement on the developmental and regulatory policies that the central bank has been encouraging units to develop offline payment solutions. That is why it is proposed to allow a small amount of payments with small payment facilities offline, keeping in mind the interests of the users, liability protection, etc.
Will be able to boost digital payment
It says that instructions will be issued soon in this context. The central bank said that details guidelines will be issued soon to implement the scheme based on the experience gained from the pilot scheme. RBI said that due to lack of internet and slow-moving in rural areas, payment is often not made. In view of this, the option of offline payment is being made available through technologies like card, wallet, and mobile. Hopefully, this will give a further boost to digital payments.
The central bank also said that Payment System Operators (PSOs) will have to implement Online Dispute Resolution (ODR). With the increase in digital transactions, disputes and complaints have also increased. This system of redressal of grievances will be rule-based and transparent. There will be no humanitarian intervention in this or even if it is very little. The objective of this initiative is to dispose of disputes and complaints in a timely and effective manner.
How it will work
According to reports, payment can be made through any other channel including card, wallet or mobile.
Payment can be done in remote or proximity mode.
Payment Transactions can also be offered without any Additional Factor of Authentication (AFA).
Limit of a Payment Transaction will be 200 rupees.
PSO will send you transaction alerts on real time as soon as the transactions are received.
