- The Central Government is planning to mandate a QR Code Based Payment Method using Unified Payments Interface (UPI) for all shops.
- The move had been approved by the GST Council.
- The National Payments Corporation of India (NPCI), an umbrella organization for all retail payments in India with 56 member banks, has reportedly been roped in to roll it out nationally.
- UPI is a real-time payments system that enables digital transactions between banks without the need to input NFSC code and other bank account details.
- All users need to do is make sure is that their mobile number is linked to their bank account(s).
Published On : 15 May 2019
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