NRB Introduces ‘QR Code Guidelines’ To Regulate QR Code Payment

March 3, 2021 | Investopaper

Following the increase in payments from QR codes, Nepal Rastra Bank (NRB) has implemented ‘QR Code Standardization Framework and Guidelines’ to strengthen and regulate QR code payment services. Guidelines include QR Payment Scheme / Network Eligibility, Acquisition and Issuance Eligibility, Acquirer and Issuer’s Main Responsibilities, Prices and Fees, Settlement Mechanism, Customer Service / Grievance Redressal and Dispute Resolution, Information Security Program, QR Logo and Branding.

NRB has also included provision to provide necessary education and public awareness regarding QR codes to the users. The criteria focus on security, along with the interconnection, widespread use and expansion of QR codes. The Department of Payment Systems under NRB had publicly called for suggestions on Magh 14. The guidelines has been implemented by incorporating the suggestions received by the NRB, which had set a deadline of Magh 30 for opinions and suggestions.


Suggested Readings:

QR Code Payment: Explained

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