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RBI’s new guidelines prevent payment operators from launching new QR Codes

RBI’s new guidelines prevent payment operators from launching new QR Codes

Payment aggregators have to use either UPI or Bharat QR as one interoperable QR code by March 31, 2022

Only one QR code can be used through which all payments can be made across merchants

RBI had earlier said that UPI caters to over 250 Mn transactions monthly through QR codes

India’s digital payments increased at a CAGR of 55.1% over the past five years

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