Bharat QR to do away with swipe machines: Bharat QR, a quick response code jointly
developed by National Payments Corporation of India (NPCI) that runs Rupay cards,
Visa, MasterCard and American Express, under instructions form the RBI, is set
to revolutionize electronic payment in the country.
It does away with the swipe machines as digital payments can be done without
traditional (black squares arranged in a square grid on a white background),
machine readable optical label that contains information about the item
to which it is attached.
With the QR code, a customer no longer needs to enter the merchant`s ID or
phone number to make payments. The payment can be made by scanning the
QR code and entering the transaction amount is debited from the bank account
without the need of a swiping machine.
Bharat QR code has a static and dynamic variant. In a static QR code, the code has
to be scanned before entering the amount on your smartphone, and authorized with a
PIN, after the money will be debited. In case of dynamic QR code, the merchant will
generate a new QR code for every transaction. He you do not have to enter the amount
Sunder Thadani. 20170221.
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