RBI ) regulatory sandbox
(
RS ) announced last year, has started
with two entities having initiated product testing from November
16, 2020, and with four more entities having started their test
phase in December, 2020. The products in the first cohort include:
(i) eRupaya?, a set of near-field communication-
(
NFC ) based prepaid cards and
point-of-sale (
POS ) devices to
facilitate offline person-tomerchant
(
P2M ) transactions and offline digital
products in remote locations; (ii) PaySe?, an offline digital cash
product to help digitise payments in rural areas through an
ecosystem of self-help groups; (iii) CityCash?, a set of
NFC-based prepaid cards and POSdevices to facilitate offline P2M