How Bharat Qr Code Works

How Bharat Qr Code Works The government want to encourage digital India and is in no mood to give oxygen to black money so it launches Bharat Qr Codes

How Bharat Qr Code Works

The government want to encourage digital India and is in no mood to give oxygen to black money so it launches Bharat Qr Codes after the BHIM app launched. This QR code can work anywhere. You can pay with this at any place without carrying your debit or credit card.  it could be outlets at railway stations, bus depots, petrol pumps, shops, grocery stores, vegetable markets, hospitals, dispensaries, etc. It presently works with Master Cards, Visa Cards, American Express Cards and RuPay cards as well. After demonetization, many mobile wallet companies are growing rapidly but the launch of the BHARAT QR Code, it will affect all of them because as of now it is not supported by mobile wallets.

After demonetization, most of the mobile wallet companies like Paytm, Freecharge, Mobikwik, and oxygen wallet increased but now Bharat QR is the answer to them. 
As of now, the Indian economy comprises more cash economy due to agriculture and other aspects but after demonetization of Rs 500/- and Rs 1000/- it is gradually moving towards a cashless economy and to promote a cashless economy union government launches BHIM app after that in the budget it also give benefit if you have more digital turnover and now government launches Bharat QR code.

What is Bharat QR Code

Bharat QR Code is a common Quick Response (QR) code standard supporting Visa, MasterCard and Rupay cards. Bharat QR code enables merchants to accept electronic payments without the need for an EDC machine.

This new facility allows customers to use their smartphones to scan the Bharat Quick QR code at the merchant outlet. The transaction is completed with enhanced security and speed and the card details remain in the control of the customer.

How Bharat QR Code Works

For using Bharat Qr code a mobile should have in your pocket and you must have an app that supported the Bharat Qr Code as of now only the BHIM app, Payzapp by HDFC and Pockets by ICICI bank has inbuilt feature of the Bharat Qr Code. By the time all banks are joining the Bharat QR Code.
As a customer, you don't need to carry more cards just add them to your app and set primary account and you are ready to use it. You have no need to share your mobile no.

Your bank’s official mobile app or an app linked to Visa, MasterCard, and RuPay platforms, generally comes with an inbuilt QR Code reader.

To make a payment, as a customer you would need to scan the ‘Bharat QR’ code using the mobile app. Then enter the billed amount and your UPI pin or MPIN the amount gets transferred from your account to the merchant’s account.

Steps To Use Bharat QR Code

1. Download and Install Payzapp or Pockets app
2. Sign In / Sign up to your account.
3. Set 4 Digits PIN code.
4. Now link your CC/DC/Bank Account.
5. All Done!! You are ready to make a cashless payment.
6. Open the app & click on the Bharat QR option.
7. Scan the QR code at the merchant store.
8. Enter the payment amount once the code is scanned
9. Pay the amount via Credit Card /Debit Card linked to the app or VPA (Virtual Payment Address) like youname@upi or yourname@bankname.

How Will It Benefit You?

You no longer need to worry whether your card will be accepted at any particular merchant location as the solution has been standardized across all card networks. To add to it, you don’t need to carry multiple cards. Just link the cards to the app and select the appropriate card during the payment. No need to share your mobile number or account details with anyone.

How Will It Benefit A Merchant?

Merchants no longer need to invest in any hardware for accepting digital payments Giving charges to the bank of POS machines or maintaining the dedicated device. A simple display board containing the QR code is all that it takes to start accepting payments.

Security Benefits of Bharat QR Code

It has security features like UPI payment address, Account no., IFSC code, and Aadhar card no.