HDFC came up with this idea under the RBI's regulatory sandbox or RS. Think of it as a special fenced off area that companies can use to trial their ideas. The pilot is attempting to ensure that transaction goes even when both customer and merchant are fully offline. While offline pay sounds perfect, it definitely has its fair share of hiccups.
In today’s episode for 17th February 2023, we explain HDFC Bank’s pilot project to promote offline digital payments and the role of the RBI sandbox.