• The Reserve Bank of India has launched pilot scheme for small value payments in offline mode. The pilot scheme shall be undertaken till March 31, 2021 only.
• Under the scheme, authorised Payment System Operators (PSOs) – banks and non-banks – will be able to provide offline payment solutions using cards, wallets or mobile devices for remote or proximity payments.
• This has been done to do away with the impediments caused due to lack of internet connectivity or low speed of internet, especially in remote areas.

Some major points related to this scheme are:

• Maximum limit of a payment transaction will be Rs 200. (For a single transaction.)
• The total limit for offline transactions on an instrument shall be Rs 2,000, at any point of time. Resetting of the limit shall be allowed in online mode with AFA.
• Payments could be made using cards, wallets or mobile devices or through any other channel. Payments may be made in remote or proximity mode.