NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

The National Payments Corporation of India (NPCI) has set October 31 as the deadline for banks to activate offline transactions on RuPay cards, which will happen faster than a blink of an eye: at 500 milliseconds.

The move will breathe life into the Reserve Bank of India’s (RBI’s) January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments.

While the no-sizing study has been done on offline volume payments, it can go a long way in reducing cash in circulation in the economy.

An