The leading payments and financial services company in India is helping build a cashless economy. India has been pushing hard to become a cashless economy, and services such as using a Paytm QR code to rent a scooter helps to provide an image of the direction the country is taking through the use of mobile phones. Paytm has played a substantial role along the country’s road to eliminating the use of cash. The mobile payments company has seen a substantial rise in India and has become the leading financial services…
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Indian regulator bans new QR codes from being launched in the country
The Reserve Bank of India is stopping the nation’s payment system operators from issuing its proprietary barcodes. The Indian banking regulator, the Reserve Bank of India, has announced that it is banning the generation of new QR codes that would have been the foundation of a new mobile payments system in the country. The regulator has stated that the new proprietary quick response codes will no longer be permitted. The national payment system is no longer allowed to issue new QR codes from its proprietary format for the purpose of…
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