In 2020 Reserve Bank of India initiated 1st COHORT Testing for Offline solutions.
Indian Bank participated in the SANDBOX testing with IND-e-Cash, NFC based solution with its technical partner Natural Support Consultancy Services (P) Ltd. who had qualified for the same at RBI.
SANDBOX testing was conducted at Ghargal Village in Solan, Himachal Pradesh
The testing was found successful at RBI (letter enclosed).
The same has found mention in EASE 4.0 under section:
IND-e-Cash has been successfully tested under the 1st COHORT under the aegis of Reserve Bank of India (RBI) for Offline solutions for B2C working.
👉Independent of internet connectivity when Transaction is done
👉100% Transaction success rate (Dependable)
👉Convenient, Simple & Easy to use (Adoption)
👉Average Transaction Time lower then cash (Acceptance)
👉No payment to be made to MASTER / VISA – saves precious foreign exchange
👉No dependency on any foreign vendor
👉No data sharing with any foreign vendor, data resides with the bank only
👉Integrated with Banks CBS system
👉Send messages to CBS for every transaction
👉DBT can be transferred to card
👉Card be toped-up at identified merchants
👉Ladies find it easy to carry the card instead of bundle of currency notes
👉Ideal for low value transactions
👉Shopkeeper syncs the transactions in machine to Server on 2G connectivity
👉The daily synchronized transactions will be updated to shop keepers CBS account
Identify the customers to whom cards to be distributed
Identify and create various points for distribution of cards
Recharge can be done through:
Identification of merchants to whom devices to be given
Get PDS shops to accept only NFC cards for Ration payment
Their account to be opened with the bank for distribution of devices
Shopkeeper will undertake transactions in Offline mode
The transactions undertaken will be synchronized by the shop keepers at his convenience
The daily synchronized transactions will be updated to shop keepers CBS account every day at 12 AM (midnight)
They will get SMS of transactions uploaded, if opted for as per bank policy
They can check the transaction status in their statement of account
One side of the Card will be used by the corporate to spread their message.
The physical area / region where the pre-paid cards will be distributed will be mutually decided.
Bank will be identifying the customers to whom they will distribute cards
Bank will also distribute 50 devices on every 10,000 cards
The Cards will be valid for a fixed period of 3 years extendable for another 2 years on mutually agreed terms.
A monthly report on pre-paid cards distributed will be provided by the bank to the company.
One side of the Card will be used by the corporate to spread their message.
The physical area / region where the pre-paid cards will be distributed will be mutually decided.
Bank will be identifying the customers to whom they will distribute cards
Bank will also distribute 50 devices on every 10,000 cards
The Cards will be valid for a fixed period of 3 years extendable for another 2 years on mutually agreed terms.
A monthly report on pre-paid cards distributed will be provided by the bank to the company.
Devotional Places
Hospitals
Army Canteens
Education Institutes
Government Offices – Canteens
Milk Federations
Housing Societies
Parking etc.
Prepaid cards and Virtual Wallet will be issued to all Yatris from the Ticket disbursement centre against their Name, Mobile no. and AADHAR
Loading of card will be done at KATRA and other vantage points on the route:
IND-e-Cash devices linked to Current Account of the bank will be issued to Merchants
There is no need of connectivity while transactions happens between the merchant and consumer.
Merchant syncs the transactions in machine to Server on 2G connectivity
The daily synchronized transactions will be updated to shop keepers CBS account every day at 12 AM (midnight)
They merchants can check the transaction status in their statement of account
Don’t have smart phones so cant do digital payments using Wallet, BHIM etc.
The female population visiting the hospital don’t even have normal feature phones
Most of them are uneducated
The Patients, will purchase a pre-loaded card, just like they used to carry cash. (Similar to Food Court cards/Metro Cards)
The Hospital Merchants / Service Points will have a NFC device issued by IB. The pocket-size machine helps collect money, instantly, from the card, which is credited digitally & safely to his account, on T+1 basis.
Prepaid cards will be issued to all Patients against their Name, Mobile no. and AADHAR
Recharge : through counter at Hospital
Devices will be issued to counters within the Hospital
Counters will do transactions
The transactions will be synchronized by the counters
The daily synchronized transactions will be updated to Hospital CBS account every day at 12 AM (midnight)
