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Samsung Pay now supports Bharat QR-code UPI payments in India
Apart from Bharat QR code support, Samsung Pay app will now be compatible also.
Earlier this year, Samsung announced that its mobile wallets Samsung Pay was successfully integrated with Unified Payments Interface. While the aim has always been to make payments easier, Samsung Pay app has now got a new update. There is a new feature that allows Samsung Pay to scan Bharat QR codes to make easy UPI payments at merchants.
Well, it only means that Samsung Pay users will now be able to use their smartphones to pay at merchants that support UPI payment system by scanning Bharat QR code. Merchants will be getting barcodes through the government's Bharat QR Code initiative.
However, if you still haven't heard of UPI then broadly know as Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform. UPI is built over Immediate Payment Service (IMPS) for transferring funds. Being a digital payment system it is available 24X7 and across public holidays.
Apart from Bharat QR code support, Samsung Pay app will now be compatible with Android O thanks to the latest update.
Currently, the update seems to be rolled out in phases and therefore the new feature is not visible in the latest Samsung Pay version on Google Play. Users might have to wait for few more days for a new update to reach app and their devices.
Meanwhile, with digital payments slowing picking up the pace in the country, Samsung's mobile payments service Samsung Pay has now crossed 1 million users in over a month. The South Korean giant launched Samsung Pay in the country in March 2017 and India is currently in the top three countries among the 20 nations using Samsung Pay just behind South Korea and Russia.