Know About UPI QR Code

Know-How to Scan a UPI QR Code for Payments

What if you went to a store and got your purchase done, but you have to stand in an awkward silence before your payment gets approved. No one wants that. Fortunately, today you can scan and pay within seconds. 

In this blog post, you will get complete knowledge on UPI QR codes: what it is, how it works, among other pertinent details. So, read on to know everything about UPI QR codes. 

What is a UPI QR code?

 UPI QR Code is a standard QR code that is used to receive payments via UPI apps. Have you ever wondered what UPI stands for? The abbreviation for Unified Payments Interface (UPI) is an instant payment system designed by the National Payments Corporation of India (NPCI).

If you want to get your UPI QR code, call your bank, and ask for a UPI QR code for your business. They will provide you with a UPI code kit that is also linked with your bank account. Or download a payment app from Google Play Store or App Store and link your bank. Now click on the “My QR code” tab over the same payment app and download your QR code. Once the download is completed, print that page, and stick it wherever you want in your store to receive payments from customers. Yes, it is that easy! 

How do you scan a UPI code for payments?

All payment apps like Paytm, PhonePe, Google Pay, or BHIM have their UPI QR code. These all are different payment applications, and although they might look different, they have the same purpose. 

Let’s see how you can complete your UPI scan for payments. 

Step-1: Take and unlock your smartphone and download a payments app of your choice (You can do one of the above. Here we take PhonePe, for example). Now, open the PhonePe app and register or sign up yourself. 

Step-2: Tap on the QR CODE or SCAN option, located on the top-right side under the purple-colored section of your screen.

Step-3: After tapping on the SCAN option, the app’s QR code scanner is active, and the phone’s rear camera will launch automatically. Now, all you have to do is hold your phone up to the QR code at the merchant store and wait for the app to detect the QR code and scan it automatically. 

Step-4: After detection, you will be directed to the payment page by the PhonePe app. The app will prompt you to enter the amount and select a payment method using your UPI-linked bank account. 

Step-5: It will then redirect you to the UPI interface, where you will have to enter your UPI security PIN and tap on the SUBMIT button.

Step-6: Your payment will be confirmed, and the amount will be deducted from your bank account. And your bank account may also send you an SMS confirming the amount has been deducted from your account.

Benefits of a UPI QR code?

According to the NPCI, the UPI is a far more secure platform than other payment systems for cashless transactions. The role of UPI QR codes can be segmented into many smaller but crucial digital payment systems. 

Some major positive sides of the UPI QR code:

  • You will get instant credit through a UPI QR code to your bank account. 
  • Do not have to worry about the annual or monthly maintenance charges for a UPI QR code.
  • You can pay your bill or payment instantly through a UPI scan code.
  • It’s very cost-effective, and you do not need to use a swipe machine. All you need is sticker paper with your UPI QR code logo or just carry your smartphone. 
  • It provides you with safe & high-level secure payment options.
  • Also, banking hours are independent, which means that transactions can be made at any time.

Through UPI, the NPCI has built a robust payment mechanism that allows for contactless and inconvenient payments.

Hopefully, this information about the UPI scan payment system was helpful to you. In addition, this will help you set up your own UPI scan system and accept payments without any hassle.

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