It was announced by Samsung this year that its mobile wallets Samsung Pay was successfully integrated with the Unified Payments Interface (UPI). Samsung pay’s aim was to make payments to its customers faster and easier with top-notch security. However, a new update has rolled out for the customers which let them scan Bharat QR codes and make UPI payment at merchants via Samsung Pay.
Merchants will soon get barcodes through the Indian government’s digital India’s Bharat QR Code initiative. Following that, the Samsung users can make easy payments to the merchants by simply scanning the Bharat QR codes.
Now, the National Payments Corporation of India developed the Unified Payment Interface system or UPI. It is an instant payment system which facilitates inter-bank transactions. The Reserve Bank of India completely governs the Unified Payment Interface (UPI). It works by instantly transferring money across two verified bank accounts using a mobile platform. Immediate Payment Service (IMPS) is used to transfer funds in UPI mode. This payment service works 24×7, so there are hassles regarding using UPI on public holidays and Sundays.
Samsung Pay is now widening its mode of scanning QR for payments. Thanks to the latest Android Oreo update, it will be compatible with Android O besides Bharat QR code support. The update, as usual, is rolling out in phases, with different devices receiving the update at different times. So even on the Google play store version, this new feature is not evident. However, updated phones have already got this feature. The other Samsung users will probably have to wait for a couple of days or weeks for the update to function on every device.
As per some records, due to its vast customer background in India, Samsung pay has already passed 1 million users in just over a month of its launch. Digitized payments are excelling in our country, moving towards the Digitial India initiative faster.
The South Korean tech company, Samsung just launched Samsung Pay in the country in March 2017. Now due to the extensive Samsung customer baseline in India, it is currently in the top three countries among the 20 nations using this feature. South Korea is leading the list, with Russia in the second spot. Following these two countries is India, in the third spot.