Digital payments in India are currently in a transitional phase. Increasing number of people are looking for smarter, safer, simpler, and faster payment options. To service this growing demand, the Government of India has recently launched a unique bank-based functionality – Bharat QR – that triggers the transaction process by scanning codes.

To keep in line with the developments, IndusInd Bank has launched its own Bharat QR-based product, enabling merchants to collect payments effortlessly. With Bharat QR, your customers would no longer have to fend for cash or carry cards. Just a quick scan from their smartphone, and the transaction is complete!

But what is Bharat QR? How does it work? Read on to find out.

What is IndusInd Bharat QR?

Bharat QR is a quick response code platform. It allows merchants to accept payments from customers simply via a QR code. But what exactly is a QR code? QR codes are two-dimensional barcodes that store information and can be read via a smartphone camera. Customers can link their credit or debit cards to the Bharat QR app and make cardless and cashless electronic payments just by scanning codes in merchant outlets.

How Does It Work?

Here’s a step-by-step breakdown of how IndusInd Bharat QR works:

• Step 1: Your customer launches the IndusMobile or any other UPI-enabled app
• Step 2: Next, the customer will scan the QR code at your outlet
• Step 3: Once scanned, the customer will have to enter the purchase amount
• Step 4: To go ahead with the transaction, the customer will have to enter their PIN
• Step 5: Once the PIN is authorised, you’ll receive the amount directly in your bank account

What Are the Benefits of IndusInd Bharat QR?

1- Secure Payments

Today, cybercriminals are constantly on the prowl, looking for opportunities to acquire confidential data. However, since all Bharat QR transactions are PIN protected, you can rest assured regarding the security. Plus, Bharat QR also employs several sophisticated encryption techniques, making transaction data impossible to crack.

2- No Need for Credit/Debit Cards

Card users often face the issue of misplacing their cards. Even if this isn’t the case, there is always a chance of transaction delays or faulty payments. Bharat QR apps eliminate these problems as it is faster and easier to operate.

3- Eliminates Maintenance Cost

Bharat QR is on its way to making POS terminals obsolete. POS devices are expensive to maintain and require multiple installations, especially in large stores. Bharat QR demands zero installation costs since all you need is a QR code to accept payments.

Documents Required

If you wish to install IndusInd Bharat QR at your outlet, here are the documents you must submit:

• Merchant application form
• ID proof
• Address proof
• Business legality proof

Wrapping Up

With the introduction of Bharat QR, your customers can now bid farewell to the inconvenient traditional payment modes and seamlessly scan their way through all the transactions. So, why wait? Say goodbye to POS terminals and provide your customers with a convenient payment method by opting for IndusInd Bharat QR today!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

FASTag is an electronic toll collection system that is based on radio frequency identification (RFID) technology. Introduced in 2014, its RFID technology enables toll payments to be made directly while the vehicle/car is moving. FASTag stickers – made mandatory at all NHAI toll booths across India – are affixed on the windscreen of vehicles and linked to the user’s prepaid account to enable the toll amount to be deducted from this linked bank account.  FASTags can be bought at toll plazas, leading public and private-sector Indian banks such IndusInd Bank, and digital payment apps such as Paytm. With a FASTag sticker, a user merely has to slow down the vehicle while crossing a toll plaza to enable the toll deduction. This saves time and makes the process of tolling hassle-free.

Following are the key benefits of using FASTag:

• Saves time by reducing traffic snarls on toll roads across the country’s state and national highways.
• Eliminates the need to carry cash by ensuring authentic digital transactions. 
• Lowers fuel cost by enabling near non-stop movement of automobiles.
• Eco-friendly due to less use of paper and reduced traffic congestion.
• Easily rechargeable online through Debit Card/Credit Card/Netbanking.
• Improves highway management and reduces efforts in management at toll points.
• Usable at hundreds of toll plazas across India, including state and national highways.

How & Where to Stick FASTag – A Step-by-Step Guide

Step #1. Clean the windshield nicely. It should neither be wet nor dirty.

Step #2. Locate the center of the windshield where FASTag must be placed to enable easy reading at the toll plaza.

Step #3. Gently remove the sticker or adhesive liner from the FASTag sticker.

Step #4. Press the sticker gently on the windshield on the aforementioned spot. 

Step #5. After pasting the sticker from inside the vehicle, do not attempt to reposition it.

Your FASTag is now installed in your car. Amount of recharge of FASTag depends on the wish of the owner.

Dos & Don’ts While Affixing FASTag

• Make sure to paste the FASTag sticker on a totally dry and clean surface.
• In case the adhesive is insufficient, immediately return the FASTag and get it replaced.
• There is no need to use cello tape or any adhesive to fix the FASTag. 
• Once positioned, do not try to peel off the FASTag. 

Valid for five years from the date of issue, FASTags come with the additional convenience of SMS alerts for all toll payments made through the tag account. Promising hassle-free travel, FASTags are immensely useful during long-distance travels by car. Beginning from 2021, FASTag has been made mandatory for all vehicles in India.

Haven’t got yours yet? Apply for FASTag online now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.