Committee For Analysis of QR Code

• Set up under the Chairmanship of D.B. Phatak in 2019 to review the prevalent system of QR Codes in India for facilitating digital payments.
• Report highlighted that the government should provide incentives to popularise usage of QR code transactions among consumers.
• Report noted that there should be a clear plan to phase out proprietary, closed loop QR codes in favour of open, interoperable standards. Considering the scale of the country, multiple interoperable QR codes should drive the acceptance infrastructure in coming years.
• It also summed up that the government / RBI should allow a controlled interchange instead of zero MDR on QR code / UPI / RuPay Debit card transactions, as well as give tax incentives to merchants who accept payments through electronic mode.