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RBI bars payment firms from issuing new proprietary QR codes
short by Hiral Goyal / on Friday, 23 October, 2020
Under the new guidelines issued by the Reserve Bank of India, it has barred payment system operators from issuing new proprietary Quick Response (QR) codes for payment transactions. It has also asked them to switch to at least one interoperable QR code by March 31, 2022. The measures are aimed at providing better user convenience due to interoperability, RBI said.
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