Andhra Pradesh power companies adopt BharatQR

Andhra Pradesh power companies adopt BharatQR
22/08/2017 , by , in ALLIED

The Eastern Power Distribution Company of Andhra Pradesh and the Southern Power Distribution Corporation of Andhra Pradesh have started accepting electric bill payments via BharatQR. BharatQR is a QR code based interoperable payment method launched by the Reserve Bank of India. It accepts payments via all four major payment networks, Visa, Mastercard, RuPay and American Express

Nara Lokesh, Minister of IT and Rural Development, State Government of Andhra Pradesh said, “Further, in keeping with the promotion of digital payments, we are exploring the possibility of abolishing surcharge levied to consumers on digital payments. Digitization of transactions will ultimately lead to a reduction of costs for all stakeholders involved.”

“Visa is humbled to have had the opportunity to steer the launch of BharatQR, the world’s first interoperable QR code standard that can help achieve India’s less-cash vision. A low-cost acceptance solution, BharatQR has the potential to drive payment digitization at scale, and be a convenient way to pay and get paid for both consumers and merchants alike. Further, digitization of such citizen to government payments at scale, would significantly help reduce India’s net cost of cash estimated to be 1.7% of its GDP, while accelerating the country’s economic growth,” said TR Ramachandran, Group Country Manager, Visa, India and South Asia.

In a statement to the press, Visa said that along with the Government of Andhra Pradesh through the less-cash initiative, Vizag Digital Dan Sankalp, have identified electricity bill payments as an important use case for payment digitisation. Given their wide reach, recurring nature of transactions and low ticket sizes, such payments are expected to drive shift in consumer behaviour towards digital payments; in particular, among first-time users.
Bharat QR is a secure, network-agnostic interface that enables customers to use their smartphones to make payments without divulging information like card numbers and CVV. To use Bharat QR to pay their electricity bills, customers will simply need to log in to their bank’s app, and scan the QR code displayed on their electricity bill, enabling instant payment. Alternately, customers may enter their unique Customer IDs online and generate a QR code that can be scanned using their bank app.

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