"QR code or Quick Response code is a two-dimensional machine-readable code made up of black and white squares and are used for storing URLs or other information. These can be read by the camera of a smartphone.Mastercard Country Corporate Officer (India) and Division President (South Asia) Porush Singh said the company has developed 'Masterpass QR', which was developed and created at its technology centre in Vadodara. MobiKwik Chief Business Officer Vineet Singh saod the BharatQR initiative will help in further advancing the digital payments ecosystem in India. "With one code access, India will achieve its target of being a digital economy sooner... Going forward, we are confident that the government will consider including wallets in Bharat QR," he added.

Source: Economic Times February 20, 2017 13:30 UTC