Now, make e-payments in stores without a network or PIN code


MUMBAI: The Reserve Bank of India (RBI) has allowed all payment providers to facilitate small bill payments up to Rs 200, digitally without internet or telecom connectivity and without additional factor authentication.
Payments can be made through any secure instrument, including cards, wallets or mobile phones.
While there is no requirement to send an alert for every transaction, vendors will need to transmit details of every transaction.
According to payment service providers, this would be similar to the way payments are made for transport like in city metros via a prepaid wallet.
“As transactions are offline, alerts (by SMS and / or e-mail) will be received by the customer after a certain period of time. Transactions are subject to a limit of Rs 200 per transaction and an overall limit of Rs 2000 for all transactions until the account balance is replenished. The balance replenishment can only take place in online mode, ”RBI said in a statement.
For banks, the main benefit of such a system is that it will ease the pressure on their core banking systems and other infrastructure.
Today, if a customer sends even a rupee using the unified payment interface, they reach the banks’ CBS. In addition, it increases the number of entries in a customer’s passbook or in the monthly statement collector.
Low value offline transactions will be done through a wallet. It will also help small businesses located in areas with a poor telecommunications network.
“The offline payment method can only be activated after obtaining the specific consent of the customer. Customers will be protected under the provisions of Circulars Limiting Customer Liability issued by the RBI. Customers also use the Reserve Bank – Integrated Ombudsman Scheme for grievance resolution, ”said RBI.
RBI’s concept of limited liability ensures that the customer does not lose money once they notify the bank that their card is lost.

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