{"id":107972,"date":"2023-08-24T16:41:24","date_gmt":"2023-08-24T11:11:24","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107972"},"modified":"2023-08-24T16:41:25","modified_gmt":"2023-08-24T11:11:25","slug":"raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500\/","title":{"rendered":"Raising the transaction cap for offline small-value payments to Rs 500"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3864377642\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Reserve Bank on Thursday enhanced the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2304761577\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>However, the total limit for offline transactions on a payment instrument remains Rs 2,000 at any point in time.<\/p><p>&#8220;The upper limit of an offline payment transaction is increased to Rs 500,&#8221; the RBI said in a circular on &#8216;Enhancing transaction limits for Small Value Digital Payments in Offline Mode&#8217;.<\/p><p>To increase the speed of small-value transactions on UPI, an on-device wallet called UPI-Lite was launched in September 2022 to optimise processing resources for banks, thereby reducing transaction failures.<\/p><div class=\"trade-content_5\" id=\"trade-840563922\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The product has gained traction and currently processes more than 10 million transactions a month.<\/p><p>Earlier this month, the RBI had proposed to facilitate offline transactions using Near Field Communication (NFC) technology to promote the use of UPI-Lite. Transactions through NFC do not require PIN verification.<\/p><p>It had said this feature will not only enable retail digital payments but also ensure speed, with minimal transaction declines in situations where internet or telecom connectivity is weak or not available.<\/p><div class=\"trade-after-content\" id=\"trade-2472875523\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank on Thursday enhanced the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available. However, the total limit for offline transactions on a payment instrument remains Rs 2,000 at any [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-107972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Raising the transaction cap for offline small-value payments to Rs 500 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Reserve Bank on Thursday enhanced the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raising the transaction cap for offline small-value payments to Rs 500\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank on Thursday enhanced the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-24T11:11:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-24T11:11:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500\/\",\"url\":\"https:\/\/tradebrains.in\/features\/raising-the-transaction-cap-for-offline-small-value-payments-to-rs-500\/\",\"name\":\"Raising the transaction cap for offline small-value payments to Rs 500 - 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