https://www.taxtmi.com/circulars?id=64222 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. en-us Thu, 06 Aug 2020 00:00:00 +0530 Fri, 07 Aug 2020 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64222 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. Circulars RBI Thu, 06 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64222