PayNearby which deploys AePS based payment solutions at merchant outlets on behalf of banks has now released BharatQR as a payment option for its merchants.
Through
the update, the company intends to enable merchants to accept cardless
payments and bring smaller merchants within the fold of digital
transactions.
In a statement, the company said that they are
hoping to get 2 crore small merchants to start accepting payments
digitally through QR codes. This will allow customers to use their
smartphone to scan the QR code and make transactions through UPI, using
any of the UPI enabled applications.
“Work done by NPCI on
BharatQR safeguards customers from skimming their cards. With our team
of 488 able professionals and over 4 lakh retail partners, we are on a
nation-wide mission to extend digital financial inclusion to all.
BharatQR integration is a massive push in this direction,” said Anand
Kumar Bajaj, founder, PayNearby.
The company will be working with Yes Bank to offer this solution and NPCI acts as the clearinghouse for BharatQR transactions.
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