The world’s first credit card with QR code launched in India… You can also take it with payment, know everything
News Desk:- The card has a QR code that allows cardholders (especially small traders) to make payments and receive payments through a single card. In this, the cardholder is not required to give any information about himself to take payment.
Have you heard of any credit cards that can be used for payment? So far we know that credit card is for paying, not for taking any payment on it. But now one such card is going to come in the market on which payment can also be taken. There will be a special type of QR code on this card, through which payment can be taken.
The name of this card is ConQR card, which Bank of Baroda and MasterCard are going to remove together. All its preparations have been completed. In this particular type of card, MasterCard company has used its patented technology which allows cardholders to take payments through the card.
For this, there is a QR code on the card which allows cardholders (especially small traders) to make payments and make payments through a single card. In this, the cardholder is not required to give any information about himself to take payment. As such, he does not need to share a PIN, password, or mobile number.
Cache pressure will decrease
The bank is also going to get great facilities with this card because the cash mess will reduce. Cash will be used extensively in payment transactions. If this facility is easily available from the card, then people will reduce the use of cash and the pressure will also come down on the banks. Spending on banknotes in ATMs and banks will reduce and the earnings of banks will increase as the trend of electronic payments increases.
QR code will be printed on the card
This card will be mainly for small business merchants. Like the photo is printed on the card under personalization, the QR code will also be printed. This QR code will work for taking and paying from a merchant’s point of sale machine. The card will have an India QR code in which some information of the merchant will be fed. Through QR Code, businessmen will be able to take and make digital payments fast.
Who will get this card
Last year, Mastercard and Bank of Baroda together issued 5 new credit cards. One of these cards was called Swavalamban which was designed for low-income people. Ever since the Kovid epidemic has increased, both companies are adopting new technology in the card sector so that contactless payments can be promoted. In this link, the new QR code card is for business customers. ConQR Credit Card will be issued to existing and new merchants of Bank of Baroda.
World’s first credit card
This card is considered to be suitable for security as it is based on QR code. The risk of fraud is found to be less in QR codes. QR code is easy in quick payment transactions and there is a delay of just scanning. Right now this card is being offered to small businesses that run accounts in the Bank of Baroda. Later it will be given to the customers taking current accounts and other services. This is the first credit card in the world to have a QR code and from which payment can be taken.