PSU banks counting on QR-based payments to breach a fintech fort

Industry insiders told ET that over the past one year, private banks such as "Since UPI payments are settled via banks in the backend, they have visibility on volumes and growth in the space," said Sameer Singh Jaini, founder of consulting firm The Digital Fifth. "Now, PSBs also want to deploy devices ranging from simple QR to sound boxes. This will help dramatically reduce the cost of having digital payment capability for these merchants and will also get them access to banks' other products like credit ...