Definition
BharatQR
BharatQR is an interoperable QR-code standard developed by Indian card networks that lets merchants accept card-based and UPI payments through a single QR code.
BharatQR was created so a customer could scan one code and pay using any supported method or app, rather than merchants displaying separate codes for each network. It works alongside UPI QR to provide unified, interoperable acceptance.
For merchants, a single static or dynamic BharatQR sticker can accept payments from multiple banks and apps, lowering the cost and clutter of acceptance infrastructure.
It was an early step toward India's now-ubiquitous QR-based merchant payments, complementing the rapid rise of UPI QR codes.
Related terms
- Merchant QRA merchant QR code is a scannable code that lets customers pay a shop or service via UPI or wallets simply by scanning and entering an amount, enabling cashless acceptance at low cost.
- RuPayRuPay is India's home-grown card payment network, built by NPCI, that powers debit, credit and prepaid cards as a domestic alternative to international networks.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.