Bharat QR is a Person to Merchant (P2M) mobile payment solution jointly developed by the National Payment Corporation of India (NPCI), Visa, Mastercard and American Express in September 2016. Bharat QR was officially introduced in India on February 20, 2017, with R. Gandhi, the Deputy Governor of the Reserve Bank of India, leading the launch. Its Payment Vision became operational in 2018 following the demonetization implementation. After deploying BQR codes at merchant locations, users can conveniently pay their utility bills through BQR-enabled mobile banking apps, all without the need to disclose their personal credentials to the merchant. Bharat QR code is known for its speed and efficiency. BharatQR code is already in use by various merchant shops, eCommerce websites, and mobile commerce platforms.

There are two distinct types of Bharat QR Codes:

1. Bharat QR Static Code:

With the Static QR Code, the customer scans the code and enters the payment amount. They then input their PIN to make a payment to the merchant or transfer money to others.

2. Bharat QR Dynamic Code:

In contrast, the Dynamic QR Code simplifies the payment process. After scanning, the customer only needs to enter their PIN. This type of QR code generates a unique code for each real-time transaction and already includes the vendor's name and the amount to be paid.

Characteristics of Bharat QR Code transactions include:

• Cost-effective infrastructure
• Remote management of both merchants and customers
• Interoperable QR code functionality
• Transaction processing based on push technology
• Eliminates the necessity for merchants to retain any charge slip copies

Bharat QR serves as an alternative payment channel and is another way to make payments. For SMEs, the process of accepting payments through Bharat QR has been simplified into five easy steps, making it accessible and user-friendly. By linking their bank accounts with the BHIM App, generating a unique QR code, and displaying it at the payment counter, retailers can seamlessly integrate Bharat QR into their payment systems.