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FAQ: BharatQR for Digital Payments Explained 

The QR-based payment solution has been designed by makes of BHIM app along with Visa and American Express.

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Quick Response code or QR code payments are getting a big push in India, and after the BHIM app, it’s time for BharatQR now. The post-demonetisation drill revolves around PM Modi and his troop encouraging consumers to ditch cash, and move to digital payments for their day-to-day chores.

Paytm, BHIM and others like MobiKwik have been pushed on us, and now BharatQR is another alternative that works out cheaper than debit card terminals or point of sale (POS) machines. So, what is there to know about this BharatQR and who is it aimed at?

QR code system is the easiest method of payment for users, but everyone is using different QR codes 
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What is BharatQR?

The QR-based payment solution has been designed by makes of BHIM app along with Visa and American Express.
RuPay, Visa and American Express have formed to create BharatQR. (Photo: YouTube/NPCI)

QR code is the digital form of barcode inscribed with details about product or a company. You can pay for items bought by screening the QR code, done via camera sensor.

BharatQR is just the same, only difference being, this has been jointly created by Visa, Mastercard, National Payments Corporation of India (NPCI), and American Express. It is compatible with Android and iOS for now. The initiative will also support payments through UPI Payment Address and Aadhaar Number soon.

Paytm also offers QR features, and works to good effect, especially if you don’t want to spend money on buying a payment terminal.

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How BharatQR works?

The QR-based payment solution has been designed by makes of BHIM app along with Visa and American Express.
Photo: The Quint

To pay via QRcode, the sellers and buyers must have a smartphone with the app that supports such payment. With BharatQR, the Reserve Bank of India (RBI) offers interoperability, which means customer can pay via any app with the QR code available.

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Which banks support BharatQR?

The QR-based payment solution has been designed by makes of BHIM app along with Visa and American Express.
The QR-based payment solution has been designed by makes of BHIM app along with Visa and American Express.

As of now, NPCI claims 14 banks support QR payment via BharatQR and big names like SBI, ICICI and HDFC are part of the first list, with more expected to join them soon.

(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)

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