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QR code based payment option to be made mandatory for shops, says report

QR code-based payment option to be made mandatory for shops, says report

QR code-based payment option to be made mandatory for shops, says report
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By CNBC-TV18 May 13, 2019 11:24:59 AM IST (Published)

In order to promote digital payments as a preferred option, the government is looking to mandate QR code-based payments at all shops and establishments and incentivise such transactions for customers as well as shopkeepers with goods and services tax (GST) benefits, the Times of India reported.

In order to promote digital payments as a preferred option, the government is looking to mandate QR code-based payments at all shops and establishments and incentivise such transactions for customers as well as shopkeepers with goods and services tax (GST) benefits, the Times of India reported.

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The details of the plans are being chalked out at the official level after the GST Council gave it a go-ahead before the ongoing Lok Sabha elections, the report said, adding that the National Payments Corporation of India (NPCI) will be roped in to roll out the mandate nationally.
The move to introduce the payment mechanism for business-to-consumer (B2C) transactions is to bring about a behavioural change, the report quoted sources as saying. In the medium to long-term, QR codes may also be introduced on invoices, sources added.
In order to promote digital payments nationally, the finance ministry is working out the rules and a decision on putting together digital payment architecture is expected after the general elections, the report added.
The Lok Sabha elections will conclude with the seventh and final phase of voting on May 19. The counting of votes begins May 23.
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