Comment by 0x5FC3
6 hours ago
Its limited to about $1000 a day.
The QR is a URI with the ID, amount and maybe other stuff. It's a client-side implementation.
RuPay sure "works within the system" but is pretty much useless for international payments/subscriptions. Not really a VISA/MasterCard replacement.
So people scan a QR code, and then enter a secure banking pin? this sounds like a security problem waiting to happen...
The QR code doesn't open a link. It's just "gibberish" text only usable by app that can understand it (e.g. banking apps).
(I don't know anything about UPI, but in Indonesia we use a similar system)
Its not gibberish text.
Its just a URI.
You can add things like &am= to prefill the amount. Merchant txns have reference IDs and all that stuff.
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I am Indian and I think what you are saying is correct. It opens up the banking app or in our case UPI providers app so like Google pay, Phonepe,paytm, Bhim UPI and other such apps.
It depends on the QR code:
1. Static QR codes displayed by the vendor have the problem you describe.
2. Dynamic QR codes are time limited, have the amount embedded in them along with the destination. These are the ones generated by websites or POS terminals for payment. Most people will only use these at a POS terminals, pay and move on.
Fraudulent websites have used static QR codes but I'm told one can dispute the transaction and the amount is usually reversed in a couple of days.