BharatQR – India’s new cashless payment system

Yesterday, in a small event, RBI introduced BharatQR, a new payment system for India. This app will use QR code (quick response code) to make payments. This will be similar to scanning a Paytm QR code at a shop near you. You might ask “why bring in a new system if we already have one in practice?” The answer is, till now different networks offer different QR codes. The QR code from paytm wont be the same as the QR code from a UPI app. RBI wants to avoid this with BharatQR. This would be very useful for small merchants…