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As Quick Response code (QR code) technology is all set to dominate the digital payment system and does not require any additional cost, the Confederation of All India Traders (CAIT) plans to promote it as a seamless mode of transaction across the country.
CAIT Secretary General Praveen Khandelwal said QR code is the most effective technology in digital payments.
“In India, QR code technology is provided by all network providers including RuPay, MasterCard, Visa, American Express and all leading wallet providers along with banks if they operate or allow outward payment option,” he said.
This also amplifies the RBI’s latest move to develop One India QR code wherein all three payment technology companies namely Mastercard, Visa and RuPay have been asked to develop inter operable QR code solutions, he said.
This allows ease of accepting digital payments without the complication of managing multiple or competitive solutions available today, he said.
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