Offline retail payments pilot permits connectivity independent transactions with specified operational limits and mandatory real time alerts. Reserve Bank permits a Pilot Scheme allowing authorised Payment System Operators to provide offline retail payments via cards, wallets or mobile devices without internet connectivity and, at the user's choice, without Additional Factor of Authentication. The scheme requires adherence to EMV contactless standards, real time transaction alerts, specified per transaction and per instrument offline limits with online reset under AFA, acquirer liability for merchant end technical or security issues, notification to the Reserve Bank of solution specifications, and allows third party innovators to operate only through tie ups with authorised PSOs.
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Offline retail payments pilot permits connectivity independent transactions with specified operational limits and mandatory real time alerts.
Reserve Bank permits a Pilot Scheme allowing authorised Payment System Operators to provide offline retail payments via cards, wallets or mobile devices without internet connectivity and, at the user's choice, without Additional Factor of Authentication. The scheme requires adherence to EMV contactless standards, real time transaction alerts, specified per transaction and per instrument offline limits with online reset under AFA, acquirer liability for merchant end technical or security issues, notification to the Reserve Bank of solution specifications, and allows third party innovators to operate only through tie ups with authorised PSOs.
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