Now digital transactions can be done through card and mobile without internet : The Reserve Bank on Thursday announced ‘offline’ on a pilot basis, the retail payment scheme through card and mobile without internet. This central bank initiative aims to encourage customers to do digital transactions even in places where there is lack of internet connectivity. The Reserve Bank said in a statement on ‘developmental and regulatory policies’, ‘the central bank has been encouraging units to develop offline payment solutions’.
The statement said that under the pilot scheme, it is proposed to allow payment of small amount with built-in facilities through ‘offline’ keeping in mind the interests of the users and security of security. It says that instructions will be issued soon in this context. The central bank said that based on the experience gained from the pilot scheme, detailed guidelines will be issued to implement the scheme.
RBI said, “Lack of internet or its low speed, especially in remote areas is a major obstacle in the way of digital payment. In view of this, the option of offline payment through cards, wallets and mobile devices is being made available. Hopefully, this will give a further boost to digital payments.
The central bank also said that the ‘Payment System Operator’ (PSO) will have to implement online dispute resolution (ODR). Controversies and complaints have also increased as digital transactions have increased. This system of redressal of complaints will be rule based and transparent. There will be no human intervention in it 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.