Updated - August 24, 2023 at 09:29 PM.
Replenishment only in online mode with additional factor authentication
The Reserve Bank of India has increased the upper limit of an offline payment transaction to ₹500 from ₹200with immediate effect.
However, the total limit for offline transactions on a payment instrumentcontinuesto be ₹2,000 at any point in time.
Replenishment of used limit isallowed only in online mode with AFA (additional factor authentication).
The issuer hassend transaction alerts to users as soon as transaction details are received. There is no compulsion to send alert for each transaction; however, details of each transaction shall be adequately conveyed.
The acquirer shouldincur all liabilities arising out of technical or transaction security issues at merchant’s end.
Offline payments are covered under the provisions of RBI’s limited customer liability circulars (as amended from time to time).
