BharatQR

Sushubh

Sushubh

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BharatQR code to be unveiled today: An explainer

IndiaQR to debut on Feb 20 - Times of India

BharatQR is a common QR code jointly developed by all the four major card payment companies—National Payments Corp. of India that runs RuPay cards, MasterCard, Visa and American Express—under instructions from the Reserve Bank of India (RBI).

“It is a major revolutionary step because of interoperability. The merchants will be identified by one QR code whether the payment is through MasterCard, Visa or RuPay and this will result in deepening of acceptance infrastructure,” said Dewang Neralla, chief executive officer, Atom Technologies Ltd, a payment service provider.

Besides working as a common interface for the Visa/MasterCard/RuPay platform, BharatQR will also facilitate acceptance using Aadhaar-enabled payments and Unified Payments Interface (UPI).

“Anyone who has a QR scanning/reading app, whether it’s a UPI-based or Aadhaar-based app, the payment can be done. It is a better alternative to physical point-of-sale (PoS) infrastructure which involves capital costs,” added Neralla.
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These are messing everything by adding too many things too fast.

Too many options to pay will confuse end user completely.
 
this actually has potential. a lot of shopkeepers do not want the hassle of getting a card machine that costs them money. aeps is also very slow as the user has to enter aadhaar number for each payment from what i have been told. yet to see it in action as both the mother dairy guys are still not accepting payments through it saying that it takes too much time and people are happy paying through Paytm and cash.

i still have no idea how bharatqr works. but assuming that one can pay using his credit card or debit card through mobile by scanning a qr code... it should be great. but then upi is pretty much the same thing and not many people have adopted it as well. remains to be seen how this works out.

i personally would love the ability to pay using my credit card without actually handing my credit card to the guy on the counter.
 
UPI is too cumbersome. Yes, even adding upi address is too cumbersome for mainstream people.

this has potential. Add your card to account. pay by just scanning the qr code.
 
ICICI Bank has already added support from what I have been told.

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Still no idea how it is supposed to work.

if it is still restricted to debit cards, fuck it.
 
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Ive asked about UPI/bhim at shops where I saw Paytm stickers and 99% of them don't know about it. Rest 1% of them said its too complicated and paytm is better.

regarding the bharathQR, I think its similar to PoS machine. Instead of swiping your card at the counter, you just scan the code and money comes directly from card. Only difference is you dont have to give your card to a stranger at counter thereby minimizing risk
 

the video mentions that credit cards are supported. but nothing on how soon the banks would start supporting it. i mean icici already does it. standard chartered does not even have a proper mobile app. masterpass does not seem to be open to everyone. so visa users might be at an advantage here through mvisa thingy for now.

of course... how the fuck would you get the retailers to use this. aeps was the most fucked up system they created. this one is at least a bit sane. of course, it requires a smartphone while aeps doesn't.
 
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so icici and hdfc now support bharatqr... post as your bank add support for it. yes pay doesn't right now.
 
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