FreeCharge has tied up with Gautam Budh Nagar Zila Chemists Association to be a payment option across all its members, which includes 2000 pharmacies in Noida and Greater Noida area.
As of now, the company mentions that it has nearly 100 pharmacies live, with other pharmacies expected to go live soon. Each pharmacy will have a QR code which can be scanned by a customer through the FreeCharge app to make a payment. Note that FreeCharge acquired a wallet license from the RBI in July this year.
Following the demonetization of Rs 500 and Rs 1000 notes, many payment companies have been looking at QR Codes as an alternative to POS machines at merchants, given the zero installation cost. Last week, PayU backed Citrus Payments and TranServ started implementing QR code based payment systems at national toll plazas and petrol stations, weeks after MobiKwik was made a payment method at 391 toll booths on Indian Highways. Similarly, Paytm, which launched QR code payments last year, has seen a significant rise in adoption.
Interoperability in QR:
Note that the Government has asked the three major card networks – MasterCard, Visa and RuPay – to build an interoperable QR Code solution. The government’s interoperable QR code-based solution will allow payments through multiple gateways. A merchant will display a common QR code, as opposed to separate codes for different wallets and services, which can be scanned through a smartphone app linked to the card networks and money will be directly transferred to a merchant’s account.