Mobile wallet apps have traditionally operated in a closed loop mechanism. This means you and your customer both were required to install the same app to facilitate payment. Examples of such systems are mVisa, SBI Buddy, Paytm etc.

With the BharatQR system, specific wallet apps are no longer required. Your customer can now choose any app integrated with BHIM (Bharat Interface for Money) and linked to his/her bank account. As a merchant, you just need the BHIM-UPI app for generating a unique BharatQR code. You can print and paste the code on your payment counter. Customers just have to scan the QR code to send money directly to your account. No other manual or electronic intervention is needed.

There is no risk of customers’ card details being exposed to anyone. There is no need to physically hand over a debit or credit card as it does not need to be swiped and hence this is no risk of data theft. There is no need to enter/reveal the mobile number or account details to make a payment either.

BharatQR makes transactions easier and more convenient for customers and merchants alike. For customers, BharatQR eliminates the need to use multiple QR codes from different payment networks when transacting with any merchant. Similarly, merchants only need to register with the bank for receiving payments through BharatQR and display a single QR code at the payment counter.