How to set up UPI QR codes www.deekpay.com

What is UPI QR Code?

UPI QR codes (Quick Response Codes) are used NPCI (used form a nominal expression) UPI The infrastructure generates machine-scannable codes that are used to store the merchant's banking information. Users can scan the code for payment using any UPI application. This is a touchless payment collection method.

When can I use the UPI QR code?

Businesses with a franchise model or multiple branches or divisions can generate unique UPI QR codes for each unit to collect UPI payments and match payments to individual units.

Multi-chain businesses: e.g. restaurants, travel agencies, jewellery showrooms, theatres, retail shops, pharmacies, etc. Multi-sectoral institutions: e.g. hospitals, schools, universities and service centres such as automotive centres.

What are the benefits of having a UPI QR code?

Having UPI QR codes will help merchants (as retailers) streamline their business operations.

fast payment

UPI offers an affordable cash transfer mechanism as quick payments can be facilitated at shops that have UPI QR codes. The customer simply scans the QR code using a mobile application that supports QR code scanners, enters some details to confirm the payment and then transfers the required amount to the merchant's bank account.

Secure payment

PoS terminals pose a risk because of the possibility of using skimming techniques to copy the information associated with the payment card. the UPI QR code eliminates this risk because the customer simply scans and pays.

high reliability

Paying the required amount by scanning the QR code eliminates the possibility of errors during the transaction. The black box pattern contains unique data, which increases the reliability of payments made by scanning the QR code.

How do I get the UPI QR code?

UPI QR codes simplify transactions between individuals and merchants (P2M), a solution introduced by NPCI, MasterCard and Visa payment networks.

Once a merchant deploys the BQR code in their shop, customers can scan the code and pay using a BQR-enabled mobile banking app without having to share their personal credentials with the merchant.

If required, follow the simple step-by-step guide mentioned below to generate UPI QR code easily:

Step 1: Check if you have a bank account to receive payments from your customers.

Step 2: Link your bank account to BHIM of mobile applications.

Step 3: Create a QR code using BHIM.

Step 4: Print the QR code so customers can easily pay for the product or service they purchased.

In addition to using BHIM, there are third-party QR code generators available online that can help create unique UPI QR codes. However, before using any kind of QR code, check its authenticity.

Recommended Reading:Detailed guide to BHIM UPI in India

What is the difference between a static QR code and a dynamic QR code?

A static QR code is an open QR code. It can accept multiple payments without specifying any fixed amount. The customer needs to enter the amount at the time of payment. Static QR code can accept any amount.Cashfree Payments UPI QR codes are static printable QR codes.

For dynamic QR codes, a unique QR code with a predefined payment amount is generated for each transaction. When the customer scans the UPI QR code, the amount is automatically populated. It is generated for a specific amount and expires once the payment is made or if the payment is not made within the predefined time period. If you want to create dynamic QR codes for each order, you can use Cashfree Payment Gateway's Desktop QR Code Checkout.

Recommended Reading:Analytical Report on Cashfree, India's Payment Gateway

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