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RBI") regulatory sandbox (" RS") announced last year, has started with two entities having initiated product testing from November 16, 2020, and with four more entities having started their test phase in December, 2020. The products in the first cohort include: (i) eRupaya?, a set of near-field communication- (" NFC") based prepaid cards and point-of-sale (" POS") devices to facilitate offline person-tomerchant (" P2M") transactions and offline digital products in remote locations; (ii) PaySe?, an offline digital cash product to help digitise payments in rural areas through an ecosystem of se...

You can soon make digital payments without Internet; know how This will encourage customers to go for digital transactions even in those places that lack internet connectivity. DNA Web Team Jan 7, 2021, 06:53 PM IST In times to come, you will not need the Internet or a smartphone to make a digital payment. You will be able to pay from any feature phone. The Reserve Bank of India (RBI) is trying to make the payment system more secure and user-friendly. The RBI has selected some Fintech companies, which are working in this direction. The Reserve Bank has allowed these companies to conduct live ...

Regulatory sandbox: RBI names four more startups selected in first cohort The RBI wants tech startups to innovate in the space of offline payments, which can push digital transactions in areas where internet connectivity is weak or absent. Bengaluru / December 24, 2020 / 09:04 PM IST The Reserve Bank of India (RBI) on December 24 announced the names of four more startups selected in the first cohort on retail digital payments under its regulatory sandbox initiative. The four startups are: CityCash, ToneTag, Ubona Technologies, and Eroute Technologies. The regulatory sandbox is a protected...