QR Based Payment

QR code payments: Instant, secure, and easy.
SET UP UPI
QR Based Payment
SET UP UPI
5 mins
05 May 2024

What is a QR-bill payment?

QR-bill payment is a convenient method of making transactions using QR codes. To initiate the payment, you must scan a QR code with the recipient's payment details, like their UPI ID. You will then have to enter the payment amount afterward. This process enables quick and hassle-free transactions, eliminating the need for manual entry of recipient details. With the rise of digital payments, QR-bill payments have become increasingly popular due to their simplicity and efficiency.

How QR-based payment works

  • The code: Businesses generate a unique QR code containing payment information. This could be the amount due, merchant details, or a link to a secure payment portal.
  • The scan: Customers use their smartphone's camera app or a mobile payment app to scan the QR code displayed at checkout counters, on receipts, or even product packaging.
  • The payment: Once scanned, the customer's phone interprets the code and brings them to a secure payment screen. Here, they can review the amount, enter any additional information (if needed), and confirm the payment using their mobile wallet or bank credentials.

Benefits of QR-based payment

  1. Convenience: QR-based payments offer a seamless and quick way to transfer money, requiring only a smartphone and an internet connection.
  2. Security: These payments are highly secure. They use encryption technology, reducing the risk of fraud and unauthorised access to sensitive information.
  3. Cost-effective: QR payments often incur lower transaction fees compared to traditional methods. This makes them an economical choice for businesses and individuals alike.
  4. Accessibility: QR codes can be generated and scanned offline, allowing for transactions even in areas with limited internet connectivity.

Security considerations

  • Reputable source: It is important to ensure that the QR code originates from a trusted source, like a recognised merchant, to avoid phishing scams.
  • App security: Use a reputable mobile payment app with strong security features like two-factor authentication for added protection.

Bajaj Pay UPI and Bajaj Pay Wallet enhance the convenience of QR-based payments, providing a secure way to pay. With Bajaj Pay UPI, simply scan QR codes to complete transactions quickly and efficiently. This makes it ideal for both everyday purchases and bill payments. Bajaj Pay Wallet complements this by offering a secure storage option for your funds. This ensures that you can make QR-based payments with ease and confidence. Together, these tools streamline the payment process, providing a hassle-free experience for all your financial transactions.

Conclusion

QR-based payments have revolutionised the way that we conduct transactions, offering speed, convenience, and security. With platforms like Bajaj Finserv BBPS, making offline UPI payments through QR codes has become simpler than ever. Embracing this technology can streamline financial transactions and enhance the overall digital payment experience for users across India.

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

How do I make a payment through QR code?

To make a QR payment, simply scan the QR code using a mobile payment app linked to your bank account or UPI ID. Enter the payment amount and confirm the transaction to complete the payment.

Who introduced QR code payment in India?

QR code payments were introduced in India by various financial institutions and payment service providers. These include banks, mobile wallets, and fintech companies.

How do I create a QR payment?

To create a QR payment, generate a QR code containing your payment details. This will include your UPI ID or bank account number, and can be done using a QR code generator or payment app. Share the QR code with the payer, who can then scan it to make the payment.

What type of payment is QR?

QR payments are a type of digital payment method that allows users to transfer money electronically. This is done by scanning QR codes linked to the recipient's payment details.

How do I take a payment through QR code?

To receive a payment through a QR code, generate a QR code containing your payment details. The payer can then scan the QR code using their mobile payment app and enter the payment amount.

Show More Show Less

Related videos