BANKING AFFAIRS

Detailed explanation-1: -Bharat QR is the world ‘s first interoperable Quick Response (QR) code acceptance solution developed by the payments industry to expedite India’s transition to a less-cash society. It has been developed by National Payments Corporation of India (NPCI), Master card and Visa.

Detailed explanation-2: -BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 to build a holistic FinTech platform for small merchants. The company is committed to empowering the over 50 million-strong SME community with its range of financial products, specially designed to address their needs.

Detailed explanation-3: -QR Codes were developed in 1994 by the Japanese corporation Denso Wave-a division of Denso, which is a subsidiary of the automobile company Toyota Motor Corporation-to track automobile parts during the assembly process.

Detailed explanation-4: -Shashvat Nakrani As the President of BharatPe, Suhail is working closely with Ashneer Grover, Co-Founder and CEO, BharatPe and the Board to build BharatPe as the one-stop destination for all financial and payment needs of the merchant community.