Global payments & technology company MasterCard has introduced Masterpass QR, a safe and secure ‘quick response’ (QR) mobile payments solution in India. Masterpass QR is a digital wallet service, which allows mobile banking users to safely pay for face-to-face purchases using their smartphones.

• To make purchases, users can scan a QR code displayed on the merchant’s device using a mobile app, without cash or cards.
• The digital payment industry is fast transforming and continuously evolving in India.
• Our focus is to innovate new, safe and secure technologies that bring the benefits of electronic payments to even more merchants, banks and consumers.
• Cashless transactions hit a record high after the government withdrew Rs500 and Rs1,000 notes on 8 November.
• With Masterpass QR, we are advancing the use of cashless payment methods to limit the flow of cash in the economy and take decisive steps toward realizing the dream of Digital India.
• RBL Bank is the only bank to integrate the Masterpass QR service into its OnGo mobile digital wallet.
• The wallet will host a virtual prepaid MasterCard that customers can use for cashless transactions, including for paying taxi and auto rickshaw fares.
• Sujatha Mohan, head, digital Initiatives, RBL Bank, said, “At RBL Bank, we have always strived to be at the forefront of cutting-edge digital payment solutions for our customers.
• We are bullish on products that simplify the payment process and eliminate the need for cash.