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

All of the world’s top 40 most polluted cities are in India with Sri Ganganagar (Rajasthan) and Siwani (Haryana) topping the list with hazardous AQI levels.
Read More....
President Droupadi Murmu creates history as the first Indian President to fly in a Rafale fighter jet, showcasing India’s advancing defence power.
Read More....
Coal Minister G. Kishan Reddy launches the 14th commercial coal mine auction along with digital portals to boost transparency, innovation, and efficiency in India’s coal sector.
Read More....
Cameroon’s 92-year-old President Paul Biya secures a disputed eighth term amid violence and fraud allegations.
Read More....
Chef Sanjeev Kapoor honoured among the world’s Top Agri-Food Pioneers 2025 for promoting sustainable, healthy and locally sourced food.
Read More....
James Anderson honoured with knighthood by Princess Anne for his legendary cricketing career.
Read More....
United States tops the Global Firepower Index 2025, with India ranked 4th among the world’s most powerful militaries.
Read More....
Scientists discover Whiteia anniae, a 249-million-year-old ancient fish species, marking the first record of the genus Whiteia in Asia.
Read More....
HAL and Russia’s UAC have joined forces to manufacture the SJ-100 passenger aircraft in India, marking a new era in indigenous civil aviation.
Read More....
South Korea honours Donald Trump with its highest civilian award, the Grand Order of Mugunghwa, for his role as a “peacemaker” on the Korean Peninsula.
Read More....