The Reserve Bank of India has increased the upper limit of an offline payment transaction to ₹500 from ₹200 with immediate effect.
However, the total limit for offline transactions on a payment instrument continues to be ₹2,000 at any point in time.
Replenishment of used limit is allowed only in online mode with AFA (additional factor authentication).
The issuer has send 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 should incur 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).