TMI BlogGuidelines for the promotion of payments through cards and digital meansX X X X Extracts X X X X X X X X Extracts X X X X ..... i. Provide access to financial payment services to every citizen along with ability to conduct card/ digital transactions. ii. Digitalize Government collections by equipping each collection point with a method to accept card/ digital payments. iii. Migrate payment transactions from cash dominated to non-cash through incentivization of card/ digital transactions and disincentivization of cash based transactions. iv. Enhance acceptance infrastructure in the country to promote digital transactions. v. Encourage corporates, institutions and merchant establishments to facilitate card/ digital payments. 4. Definition Digital transactions are defined as transactions in which the customer authorizes the tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents at all collection centres. ii. Ministry of Road Transport Highways/ Ministry of Urban Development shall facilitate the use of existing open-loop systems issued by a bank for multi purpose use, including for making transit payments with a dedicated application (eg. Toll fees, metro rail and bus services, etc.). iii. Department of Financial Services/ RBI shall ensure that each eligible account holder under PMJDY may be provided access to the digital financial services in addition to the 'RuPay Card'. iv. Department of Electronics Information Technology shall formulate an action plan to ensure Government Departments/Organisations introduce appropriate acceptance infrastructure and facilitate collection of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts by any Government Department/ Agency shall be allowed only under very specific circumstances for clearly stated reasons. v. Department of Revenue/ Department of Financial Services shall mandate payments beyond a prescribed threshold only in card/ digital/cashless mode. C. Creating Acceptance Infrastructure i. Department of Financial Services/ RBI shall introduce of formulae linked acceptance infrastructure for different stakeholders of certain card products through appropriate ratio of POS terminals/ mobile POS terminals to cards issued or other means. The possibility of creating an Acceptance/ Financial Inclusion Fund for the purpose shall be explored. ii. Department of Financial Services/ RBI shall re-examin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid instruments. E. Awareness and Grievance Redressal i. Department of Financial Services/RBI shall take steps (a) to create necessary assurance mechanisms for fraudulent transactions wherein, in case of a fraudulent transaction, the money will be credited back to customers' account and blocked and subsequently released after the investigation is complete, within maximum of 2-3 months; (b) to strengthen the role of banking ombudsman to provide greater customer confidence and (c) to formulate a comprehensive customer protection policy for transactions through cards and digital means. ii. Department of Financial Services/RBI shall take steps to optimally use funds under Depositor Education and Awareness Fund (DEAF) fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed timelines. d. Studying feasibility and framing rules for creating a payments history for all card/ digital payments and ensure merchants/ consumers can leverage their credit history to access instant, low-cost micro-credit through digital means and create necessary linkages between payments transaction history and credit information. iii. Department of Revenue/ Department of Economic Affairs/ Department of Financial Services shall grant tax rebates/incentives or introduce mechanisms for cash back/lottery or any other measures to incentivise transactions through cards and digital means. iv. Department of Financial Services/ RBI shall develop a methodology for enabling very high value transactions through cards and dig ..... X X X X Extracts X X X X X X X X Extracts X X X X
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