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

Mauritius awarded its highest honor, ‘Order of the Star and Key of the Indian Ocean,’ to PM Modi.
Read More....
The government will establish daycare cancer centers in every district within three years.
Read More....
According to the second advance estimates of the Ministry of Agriculture, India achieved a record food grain production in the 2024-25 session, with Kharif at 16.6391 million tonnes and Rabi (excluding summer crops) at 16.4527 million tonnes.
Read More....
India signed an MoU with Armenia for cooperation in the regulation of medical products.
Read More....
The joint military exercise Khandjar-XII between the special forces of India and Kyrgyzstan began in Tokmok, Kyrgyzstan, and will be held from March 10 to 23, 2025.
Read More....
Dr. Jaishree Venkatesan became the first Indian to win the prestigious Ramsar Award in the ‘Wetland Wise Use’ category and was recognized as a female changemaker in wetlands by the Ramsar Secretariat.
Read More....
Self-Help Groups (SHGs) of Andhra Pradesh set four world records—one Guinness and three World Records Union records, with DWCRA members achieving 3 lakh orders worth ₹5.13 crore in a week on ONDC.
Read More....
Union Health Minister J.P. Nadda inaugurated the third International Symposium on Health Technology Assessment (ISHTA 2025) at Bharat Mandapam, organized by the Department of Health Research in collaboration with WHO India and the Centre for Global Development.
Read More....
No Smoking Day is observed every year on the second Wednesday of March.
Read More....
Mumbai will host the WAVES 2025 Summit, with a high-level meeting co-chaired by the Chief Secretary of Maharashtra and the Secretary of the Ministry of Information and Broadcasting.
Read More....