BharatQR launched today: All you need to know

Ramarko Sengupta February 20, 2017

BharatQR code, a quick response (QR) code, was launched by the government on Monday to enable digital payments without card swiping machines. The launch comes on the back of the government’s efforts to make India a digital economy. This is the second big push after the government launched its e-wallet app BHIM (Bharat Interface for Money) in December last year.

Here’s your cheatsheet to BharatQR:

  • The BharatQR code will allow merchants to accept payments via debit/credit cards even if they don’t have a card-swiping machine.
  • Customers can just scan the merchant’s QR code and make the payment via their banking app. The amount will be directly transferred to the vendor or the merchant’s bank account.
  • Unlike transactions via PoS (point of sale) machines or card-swiping machines, customers don’t need to enter a PIN (personal identification number).
  • The process is similar to how private payments firm Paytm’s QR transactions function. However, on platforms like Paytm, both the payer and the payee need to have an account.
  • BharatQR is a common QR code jointly developed by card payment companies — MasterCard, Visa, American Express and National Payments Corporation of India, which runs RuPay cards.
  • Besides the four major card companies’ platforms, BharatQR will also accept Aadhaar-enabled payments and Unified Payments Interface (UPI).
  • The platform has been developed under the aegis of India’s central bank, the Reserve Bank of India (RBI).


Thank you for reading FactorDaily

We hope this story worked for you.

Our journalism is produced by some of the best brains in the story-telling business who believe that good stories have only one master: you, the reader. Bringing these stories to you, just so you know, costs us a pretty dime even as the context of disruption remains unchanged in the journalism business the world over.

If you like what you read here, consider supporting the FactorDaily journey. We don’t have a paywall because we believe access to good journalism must be free to all, especially when it is in public interest and informs citizens with independence and accuracy. Such stories should not be restricted to a few who can pay. You are free to support us with any amount you like. 

Please note that 18% of your contribution will be paid to government as GST, per Indian accounting rules.