How Bank of Baroda customers can scan UPI QR code and pay via digital rupee
digital currency available in their digital rupee [CBDC-R] wallet and scan to pay across any UPI QR code. Similarly, merchants need to only display their existing single QR code, which can accept payments in both CBDC and UPI.
With this, we believe that the digital rupee ecosystem can scale up quickly." CBDC UPI QR interoperability functionality on the Bank of Baroda Digital Rupee app is being rolled out to pilot users across 26 cities (i.e. Delhi, Mumbai, Bhubaneswar, Chandigarh, Ahmedabad, Bengaluru, Hyderabad, Guwahati, Gangtok, Indore, Bhopal, Pune, Lucknow, Patna, Kochi, Shimla, Goa, Jaipur, Kolkata, Chennai, Ranchi, Nagpur, Visakhapatnam, Varanasi, Pondicherry, and Vijayawada) in a phased manner starting with Android, and will be available to iOS users shortly.
The Digital Rupee is legal tender issued by the Reserve Bank of India (RBI) in Digital form. The CBDC UPI QR interoperability is an extension to the CBDC-Retail pilot launched by the RBI last year.
Kotak Mahindra Bank Yes Bank Axis Bank HDFC Bank Canara Bank Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India.
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