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Airtel Payments Bank Partners IDEMIA, Nokia To Enable CBDC Payments On Feature Phones

The ‘advanced offline payment system’ will go live over the course of next few months and will enable users to make payments via CBDCs on feature phones sans internet

The product, which is currently in design phase, will leverage Airtel Payments Bank’s financial solution and IDEMIA’s CBDC stack to build the app

The new offering will aim to fuel the adoption of CBDCs in the country, promote financial inclusion and address issues associated with facilitating digital transactions in areas with limited connectivity

Airtel Payments Bank has partnered with French biometric solutions provider IDEMIA and Nokia parent HMD Global to launch an offline system for facilitating digital rupee payments on feature phones. 

Digital rupee is simply a tokenised digital version of the Indian fiat currency and is issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC).


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