Now you can make digital payments without PIN or network according to new guidelines issued by RBI on Monday, January 3 2022.
RBI posted “Framework for facilitating small value digital payments in offline mode.”
According to RBI, “An offline digital payment means a transaction which does not require internet or telecom connectivity. Under this new framework, such payments can be carried out face-to-face (proximity mode) using any channel or instrument like cards, wallets, mobile devices, etc. Such transactions would not require an Additional Factor of Authentication (AFA). Since the transactions are offline, alerts (by way of SMS and / or e-mail) will be received by the customer after a time lag. Transactions are subject to a limit of ₹200 per transaction and an overall limit of ₹2000 for all transactions until balance in the account is replenished. Balance replenishment can only occur in an on-line mode.”
“Offline mode of payment can be enabled only after obtaining specific consent of the customer. Customers shall enjoy protection under the provisions of circulars limiting customer liability issued by Reserve Bank (as amended from time to time). Customers also have recourse to the Reserve Bank – Integrated Ombudsman Scheme for grievance redress.
Offline transactions are expected to give a push to digital transactions in areas with poor or weak internet or telecom connectivity, particularly in semi-urban and rural areas. The new framework is applicable with immediate effect” it further says.
Key Points/Takeaways For You
- Offline payments may be made using any channel or instrument like cards, wallets, mobile devices, etc.
- It shall be made only when both parties are present physically in front of each other.
- Offline payments would not require Additional Factor of Authentication (AFA).
- Offline payment instruments will be enabled after explicit consent of customer
- The upper limit of offline payments will be Rs 200.
- The total limit for offline transaction will be Rs 2000. It can be replenished only in online mode with AFA
- Customer may receive alert for transaction via SMS after a time lag.
- For payment grievances customer can recourse to Reserve Bank- Integrated Ombudsman Scheme
- RBI has right to modify and stop the operations of this service any time.