Tuesday, February 21, 2017

Bharat QR code. Single QR code for all Wallet.

Bharat QR Code is a common QR code made ease of payments across different wallet service. This is a standard which will support Visa, MasterCard and Rupay cards for wider acceptance. Currently, if you want to make a cashless payment at most stores, you need a credit and debit card to swipe and enter the PIN code for authentication but Bharat QR code will enable the merchants to accept digital payments without the Point of Sale (PoS) swiping machine. It will allow customers of any bank to use their smartphone app to make payment using their debit card. This will help merchants need to invest in buying the PoS machine.

As of now Bharat QR is integrated into ICICI Bank’s Pockets app and HDFC Bank’s PayZApp, with more banks expected to update their apps with support for the same. In order to test this feature I tried making payment using ICICI Bank’s Pocket app. To test the feature, I have generated a QR code using BHIM app. Next, I used Pocket’s app to scan the QR code and the payment successfully went through via UPI

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