New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    The world's first interoperable payment

    acceptance solution is developed by National Payments Corporation of India (NPCI), Mastercard and Visa. In this users can just “scan and pay”. What is this solution called?
    A BHIM PAY Correct Answer Incorrect Answer
    B India Pay Correct Answer Incorrect Answer
    C Bharat QR Correct Answer Incorrect Answer
    D PaySe Correct Answer Incorrect Answer
    E CashLe Correct Answer Incorrect Answer

    Solution

    BharatQR code, the world's first interoperable payment acceptance solution, was launched to move towards less-cash economy at an "insignificant cost". The government has been aggressively pushing for higher usage of digital payment mechanisms, including launching BHIM app and increasing penetration of PoS machines. BharatQR code would require merchants to only display one QR code instead of multiple ones

    Practice Next

    Relevant for Exams: