HDFC Bank launches pilot for offline digital payments in poor connectivity areas

HDFC Bank launches pilot for offline digital payments in poor connectivity areas

Daily Current Affairs / HDFC Bank launches pilot for offline digital payments in poor connectivity areas

Change Language English Hindi

Category : Business and economics Published on: February 16 2023

Share on facebook

HDFC Bank has started a pilot project to enable digital payments in the offline mode under a regulatory facility.
HDFC Bank has started the offline digital payments pilot project in partnership with Sweden-based Crunchfish AB, India’s IDFC Bank and M2P Fintech. The pilot is happening under the fourth cohort of the Reserve Bank of India (RBI) regulatory sandbox.
The fourth cohort was themed ‘On Tap’ for retail payments.
HDFC’s product is called ‘Offline Retail Payments’. With that, the private bank enables customers and merchants to pay and receive payments in offline mode.
The lender will roll-out this service as part of a limited pilot for four months in more than 16 cities and towns across the country. The offline transaction amount would be limited to up to ₹200 per transaction.

Recent Post's

Pakistani troops fired at Indian posts along the Line of Control, heightening tensions after the Pahalgam civilian killings.
Read More....
India's extreme poverty dropped sharply from 16% to 2.3% in a decade, lifting 171 million people above poverty line.
Read More....
UDAN scheme completed 8 years, making air travel affordable for common citizens and boosting connectivity.
Read More....
SRFTI’s film “A Doll Made Up of Clay” selected for Cannes 2025, marking a historic entry for Indian cinema.
Read More....
DRDO successfully tested scramjet engine for 1,000 seconds, advancing hypersonic technology in India.
Read More....
India participated in 11th BRICS Labour & Employment Ministers’ Meeting 2025 held under Brazil's presidency.
Read More....
Iran offered to mediate between India and Pakistan amidst rising tensions after the Pahalgam attack.
Read More....
The 2nd Asian Yogasana Championships started in New Delhi to promote Yogasana globally.
Read More....
Former ISRO chief Dr. K. Kasturirangan, pioneer of Chandrayaan-1, passed away at 84 in Bengaluru.
Read More....
India's direct tax collection grew by 13.57% in FY25 but slightly missed the revised target.
Read More....