Mimosa pudica, or the touch-me-not plant – That’s how our transactions are becoming.
Given our preferences for touchless menus and contactless transactions in the last two years, QR codes have made huge inroads – a
Local Kirana stores, restaurants, fintech players, retailers, FMCG companies, travel and hospitality businesses, healthcare businesses, and even donation platforms have started using Quick Response, or QR codes with varying degrees of need.
In
RBI announces UPI and credit card linking
With the new announcement, users can now link their credit cards to popular UPI apps like Google Pay, Paytm, and PhonePe. Users can then scan the QR code and choose a credit card as the mode of payment, making it an additional layer of convenience.
So, how are these developments in QR codes impacting business revenues, and customer growth?
QR codes – The connector between us and the physical world
As we know, QR is a barcode-like image consisting of information about both a merchant and their payment provider. QR payments function like a normal Point of Sale (POS) terminal: customers use their smartphone to scan the QR code, once the camera detects the QR code, a push notification leads them to a screen to input their payment details and complete the purchase instantly.
QR codes – The key benefits.
- Convenient and contactless, and real-time
QR codes can be placed anywhere: outside a payment counter or shop, on websites, or in emails. Customers can complete payments instantly, from a safe distance. - Improved customer experience
QR codes for payments eliminate the need for any cards or payment terminals – just a smartphone can do the job. - A secure payment alternative
QR codes are more secure than card payments: all data is encrypted and if paid through a website QR code, customers need not even fill in any bank details. - Payment Reconciliation
Every payment is reconciled in real-time, and the ledgers are updated. While it is convenient for customers,virtual accounts APIs make it easier for businesses. - Saving on commissions and processing fees
While vendors can get payments instantly via QR codes & UPI, small merchants get to save the commission or transaction fees to payment gateways. With high-volume__B2B payments__, SMEs can save big by using QR code payments and avoiding paying hefty processing fees.
How can Decentro empower businesses with QR codes for payment?
Get Static or Dynamic QR Payment Codes
Decentro’s
Branded, or White-labeled UPI IDs
Branded UPI IDs instill confidence in customers. Decentro can help you brand the UPI IDs in the name of your business, making way for a better customer experience!
Simplified Split Payments & Commission Settlements
For businesses with more than one branch, keeping track of the money flow can be a hassle. Decentro’s
Payment Reconciliation
Offline businesses often face trouble figuring out missed payments, reversed transactions, etc. Decentro’s real-time payment reconciliation via
Speed of Integration
You perhaps liked all the features and it fits well with your business needs. If you are wondering how soon you get started with the integration, Decentro’s financial &
By the way, You also even scan the QR code below to reach us.
Just for the feel of it, cheers!