Quick Response Code (QR Code)

1. Paytm: Payments can be made using the Paytm QR code method. Using this, customers can make payments at merchant stores and also send and receive money. At a merchant store, a customer will have to physically scan the QR code using the Paytm app and make a payment.
2. Bharath QR code: In an effort to give a push to digital payments in the country, the Government of India launches the Bharath QR code. In order to make a payment using this, a customer will have to install the required bank app or BHIM app on a smartphone. To make payments at merchant outlets, open the app, scan QR code and make payment. Post QR code scanning, enter the transaction amount and the four-digit password.
3. MobiKwik: Customers using MobiKwik can also choose to make payments using the QR Code option. All merchant payments across the country can be made using this interface without any hassle.
4. Freecharge: Freecharge is another digital wallet that supports QR code - based payments. To make a payment using the QR code, go to the home screen, choose 'Pay and Send' and click on the option to 'Scan QR code'. Transactions will be processed using a one time password or 'OnThe Go Pin'.
5. ICICI Pockets app: The 'Scan and Pay' feature in the ICICI Pockets app allows users to make payments at various merchant outlets. Scanning can be done through the phone camera and the QR card will be displayed at the merchant outlet. Payments can be made with MasterCard, Visa and Rupay cards.

Benefits of QR Code Payments

1. The transaction cost is much lesser while making payments through this method when compared to other forms of payments
2. Easy, hassle free and convenient
3. Less time consuming
4. In terms of business owners, the use of QR code eliminates the need to purchase a Point of Sale Machine. Therefore, there is no need for any special equipment.
5. It is a very safe and secure interface for payments.

How to Scan a QR Code?

Scanning a QR code is quick and simple. Here's how to do it:

• Open the Camera App: Most smartphones come with a built-in QR code scanner in the default camera app. Open the camera and point it at the QR code.
• Use a QR Code Scanner App (Optional): If your phone doesn't automatically detect QR codes, download a free QR code scanner from the Play Store or App Store.
• Align the Code: Make sure the QR code is well-lit and within the frame of the camera or scanner app.
• Click on the Prompt: A pop-up will appear with a URL, payment screen, or action (like saving contact info). Tap the prompt to complete the action.
• For Payments: If you're scanning a QR code to make a payment (e.g., using Google Pay, PhonePe, Paytm), open the respective app and scan the code using the in-app scanner. Enter the amount and complete the payment with your UPI PIN.

Types of QR Codes

There are mainly two types of QR Codes used in India and globally:

• Static QR Codes: Fixed Information: Once generated, the information in the code cannot be changed. Best For: Simple use cases like sharing website links, contact info, or small business payments. Example: UPI QR codes at roadside stalls or local vendors.
  • Fixed Information: Once generated, the information in the code cannot be changed.
  • Best For: Simple use cases like sharing website links, contact info, or small business payments.
  • Example: UPI QR codes at roadside stalls or local vendors.
• Dynamic QR Codes: Editable Content: Information can be changed or updated even after the code is generated. Trackable: These QR codes allow analytics like number of scans, location, and device used. Best For: Businesses, marketing campaigns, and secure payments. Example: QR codes used by big retailers or on digital receipts.
  • Editable Content: Information can be changed or updated even after the code is generated.
  • Trackable: These QR codes allow analytics like number of scans, location, and device used.
  • Best For: Businesses, marketing campaigns, and secure payments.
  • Example: QR codes used by big retailers or on digital receipts.