As a result of the partnership, the QR (quick response) code-based payment solution will allow merchants to accept digital payments from those who hold a debit card even if they don’t have a card swiping terminal. The product, called BharatQR, will be formally launched on 20th of February 2017 in Mumbai, bloombergquint.com reports.
It becomes the second major digital payment option being promoted by the government after the Unified Payments Interface (UPI) based BHIM app, the source cites. Both are being pitched as an alternative to cash following the 8th of November 2016 demonetisation decision. While currency availability has now started to normalise, the government is trying to encourage digital payments by making them more convenient and cost effective. (The Paypers)
1,600,000 Merchants ?
Thailand is an amazing country with huge potential. Today the must successful bank have for the last few years triple their number of
POS terminals, so called card acceptance terminals and now reached more than 120,000 locations.
e-Money in Thailand
Bang of Thailand informed the market players on August 14 how to handle and make rules for e-money A few interesting things,
worth to be mentioned is:
Bank of Thailand give guidelines that e-money issuers can put an expiration date. That's is very surprising due to the fact that there is an Consumer Act saying the opposite, issuer of electronic values can not put an expiration date.
If you have a card or an account with e-money and you go to an ATM machine to withdraw TB 100.00 but your balance is only TB 80.00, the provider, the issuer is not allowed to give a credit. e-money must be bought and then later used or withdrawn. Provider must allow you to withdraw the value.
So in reality today, August 2014 when mobile phone operators in Thailand, give you an AUTO CREDIT when your account run low, that is not allowed
There is a limit that an e-money card or voucher only can have TB 50,000 but no limitation on how many you can buy.
The way you find ViA
The SPACE in the shop has a value, you agree? So it is also important to see how much and where in the shop you have the best earnings.