https://www.taxtmi.com/news?id=22980 The Committee recommends promoting open, interoperable QR standards (Bharat QR and UPI QR) while phasing out proprietary closed loop QR systems; simplifying merchant onboarding by accepting existing bank account KYC with acquiring banks retaining onboarding responsibility and risk based KYC strengthening; enabling technical standards such as signed and dynamic QR codes, backend merchant resolution via a common registry, multiple UPI IDs per recipient, offline dynamic QR for low value use cases, and third party security testing; and replacing zero MDR with a controlled interchange plus incentives to sustain the payments ecosystem. en-us Wed, 22 Jul 2020 19:03:45 +0530 Wed, 11 Feb 2026 15:58:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22980 The Committee recommends promoting open, interoperable QR standards (Bharat QR and UPI QR) while phasing out proprietary closed loop QR systems; simplifying merchant onboarding by accepting existing bank account KYC with acquiring banks retaining onboarding responsibility and risk based KYC strengthening; enabling technical standards such as signed and dynamic QR codes, backend merchant resolution via a common registry, multiple UPI IDs per recipient, offline dynamic QR for low value use cases, and third party security testing; and replacing zero MDR with a controlled interchange plus incentives to sustain the payments ecosystem. News - Wed, 22 Jul 2020 19:03:45 +0530 https://www.taxtmi.com/news?id=22980