BharatQR code: World's first interoperable payment acceptance solution launched

February 21, 2017

New Delhi, Feb 21: BharatQR code, the world's first interoperable payment acceptance solution, was launched on Monday as part of efforts to move towards less-cash economy at an "insignificant cost", according to industry members.

qrcodeOver the past few months, the government has been aggressively pushing for higher usage of digital payment mechanisms, including launching BHIM app and increasing penetration of PoS machines.

Developed by National Payments Corporation of India (NPCI), Mastercard, and Visa, BharatQR code would require merchants to only display one QR code instead of multiple ones.

Devised on the direction set by the Reserve Bank of India (RBI) in September last year, it will make payments seamless for buyers as they just have to "scan to pay" for transactions instead of swiping their credit/debit cards.

NPCI Managing Director and CEO AP Hota said RuPay has emerged as one of the most successful "home grown card networks in the world" and BharatQR code initiative is yet another "transformational step towards building a less-cash economy at an insignificant cost."

QR code or Quick Response code is a two-dimensional machine-readable code made up of black and white squares and are used for storing URLs or other information. These can be read by the camera of a smartphone.

Mastercard Country Corporate Officer (India) and Division President (South Asia) Porush Singh said the company has developed 'Masterpass QR', which was developed and created at its technology centre in Vadodara.

"It is completely 'Made in India'... We look forward to leveraging our technology backbone and partnering with the government and the industry to create a robust, safe and secure digital payments ecosystem," he added.

A number of leading banks are already operationally ready to deploy BharatQR, including SBI, Axis Bank, Bank of Baroda, Bank of India, Citi Union Bank, Development Credit Bank, Karur Vysya Bank, HDFC Bank, ICICI Bank, IDBI Bank, RBL Bank, Union Bank of India, Vijaya Bank and Yes Bank.

Many other banks are at various stages of implementation.

Mobile wallet companies like Paytm have already been working with QR codes for some time.

The Alibaba-backed firm has said it plans to invest Rs 600

crore in the next 10 months to further enhance its QR code-based payments solution.

MobiKwik Chief Business Officer Vineet Singh saod the BharatQR initiative will help in further advancing the digital payments ecosystem in India.

"With one code access, India will achieve its target of being a digital economy sooner... Going forward, we are confident that the government will consider including wallets in Bharat QR," he added.

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News Network
May 6,2020

Hyderabad, May 6: Away from city lights, two hours before Sunrise, people in India and across the world can witness Annual Meteor Shower called Eta Aquarids till May 28.

Observed since time immemorial, Meteor shower are commonly known as shooting stars which are nothing but dust flakes of comet/asteroid entering earth atmosphere.

This Annual Eta Aquarids Meteor Shower peaked on Wednesday at 02.30 am on Wednesday whereas presence of Full Moon was an obstacle outshining bright streaks of lights of this meteor shower zipping across the South Eastern sky.

As this meteor shower is active till May 28, people can still watch this celestial spectacle in early morning every day, Planetary Society of India (PSI) Director N Sri Raghunandan Kumar interacting with UNI said.

As per International Meteor Organization (IMO), 50 meteors per hour are expected to be seen on day of peak today. And this number would vary as days pass on till May 28 while earth passes through dust cloud of comet debris in its orbit.

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News Network
June 30,2020

Bengaluru, Jun 30: Karnataka Chief Minister BS Yediyurappa on Monday launched 'Skill Connect Forum' and said that the government is committed to provide impetuous to creating jobs by reviving economic and industrial activities.

The 'Skill Connect Forum' portal connects both private entrepreneurs and job seekers on the same platform.

After launching the forum, the Chief Minister said that the portal provides information on jobs available and who needs a job. "Under this forum, an unemployed will be imparted skills and then enabled to get a job," Yediyurappa said.
Besides providing jobs via registration, the portal also provides a skilled pool of people for those looking to hire, he added.

Deputy Chief Minister Dr CN Ashwath Narayan, who is also the Skill Development Minister said that portal will be a boon to the youth seeking jobs and it will avoid unemployment issue to a great extent.

"All these years, there was no information and communication between job seekers and recruiters. The portal will solve that problem," he said.

Narayan said that there was no proper information on skilled workers and job market. Moreover, skill development was not in sync with the market. All these issues have been addressed by the portal, he added.

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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