HDFC started offline digital payments pilot under RBI sandbox

Share via:

HDFC Bank has started a pilot project to enable digital payments in the offline mode under a regulatory facility.

According to the country’s largest private bank, the facility will allow it to conduct transactions in no-network areas and urban pockets with poor networks. HDFC Bank has launched an offline digital payments pilot project in collaboration with Crunchfish AB of Sweden, IDFC Bank of India, and M2P Fintech. The pilot is being conducted as part of the fourth cohort of the Reserve Bank of India’s (RBI) regulatory sandbox. The RBI chose HDFC Bank and Precision Biometric India after nearly a year of reviewing applications, with the two companies developing two different products for the same application.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

HDFC started offline digital payments pilot under RBI sandbox

HDFC Bank has started a pilot project to enable digital payments in the offline mode under a regulatory facility.

According to the country’s largest private bank, the facility will allow it to conduct transactions in no-network areas and urban pockets with poor networks. HDFC Bank has launched an offline digital payments pilot project in collaboration with Crunchfish AB of Sweden, IDFC Bank of India, and M2P Fintech. The pilot is being conducted as part of the fourth cohort of the Reserve Bank of India’s (RBI) regulatory sandbox. The RBI chose HDFC Bank and Precision Biometric India after nearly a year of reviewing applications, with the two companies developing two different products for the same application.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

You can now use the Microsoft Copilot bot on...

Copilot is a chatbot based on OpenAI’s GPT-4...

China’s $47B semiconductor fund puts chip sovereignty front and...

China has closed a third state-backed investment fund...

AI models have favorite numbers, because they think they’re...

AI models are always surprising us, not just...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!