BharatQR Launched on 20 Feb 2017

The BharatQR the world’s first interoperable Quick Response (QR) code acceptance solutio is launched Today, 20 Feb 2017. BharatQR is developed by major card network companies National Payments Corporation of India (NPCI), MasterCard and Visa. This is designed on the basis of directions issued by the Reserve Bank of India (RBI) in September 2016. BharatQR is based on three key benefits: 1. Consumers will not need to scan different QR codes at the same merchant provided by the different payment networks. 2. Merchants will only need to display one QR code at the storefront or through the acquiring bank’s mobile application. 3. The underlying specification for BharatQR can be implemented in other countries to deliver a globally interoperable solution.