Mobile-wallet firm Paytm on Monday said it would invest up to Rs600 crore over 10 months to improve and expand its own QR code-based payments network. Photos: iStockphotoMumbai: In a bid to make digital payments to merchants cheaper, the National Payments Corp. of India (NPCI), Visa Inc. and Mastercard Inc. on Monday launched the world’s first nationwide interoperable payments service. BharatQR is part of an effort to promote digital payments and transform India into a less-cash economy following the demonetisation of high-value currency notes in November. BharatQR was launched by Reserve Bank of India deputy governor R. Gandhi, who said “ interoperable solutions like BharatQR are essential to accelerating India’s transition to a less-cash society”. ALSO READ: 100 days after note ban, have digital payments become more popular?

Source: Mint February 20, 2017 20:46 UTC