UPI QR Code:
- Accepts only UPI-based payments (from person to person or person to business).
- Can be used for both personal and business transactions.
Bharat QR Code:
- Accepts UPI, credit, and debit card payments.
- Can only be used for person-to-business transactions.
- Primarily intended for businesses.
Static vs. Dynamic QR Codes
Static QR Code:
- Has an open amount.
- Customers enter the payment amount during the transaction.
Dynamic QR Code:
- Has a fixed amount pre-set.
- Customers can only pay the exact amount specified.
Benefits of Using QR Codes
- Cost-effective: Cheaper than traditional POS machines.
- Easy to manage: Simple to generate, print, and display.
- Contactless: No need for physical cash or change.
- Quick and efficient: Scanning and paying are faster than manual entry.
- Government compliant: Dynamic QR codes adhere to GST regulations.
Advantages of Razorpay QR Codes
- Branded: Includes business logo, name, and UPI handle for better visibility.
- Customizable: Offers various features to tailor QR codes to specific business needs.
- Unlimited and free: Businesses can create multiple QR codes for different locations or purposes.
- Trackable: Provides dashboard, reports, and webhooks for easy payment tracking and reconciliation.
- All-in-one: Enables businesses to collect payments from various methods through Razorpay.
Summary
In summary, while both UPI QR Codes and Bharat QR Codes offer efficient payment solutions, Bharat QR Codes have the added advantage of accepting credit and debit card payments. Static QR Codes are flexible in terms of payment amounts, while dynamic QR Codes are ideal for pre-determined transactions. Razorpay QR Codes provide additional features like branding, customization, and tracking to enhance the payment experience for businesses.
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