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What is Scan & Pay?

Tired of waiting in long queues to make purchases? Now use the Scan to Pay option to make cashless payments in a matter of seconds.

What is Scan to Pay?

Scan to Pay allows you to scan a Quick Response (QR) code at any merchant outlet or retail store and make a payment. Your payment is made in a fraction of a second and thus helps you save valuable time. You can scan your QR code is different scanner apps like google pay and many more apps.  Why carry extra cash and cards all the time when you have a mobile wallet?

Benefits of Scan to Pay:

  • Scan to Pay is not only beneficial for customers, but is also very helpful for business owners as well. By incorporating the Scan to Pay option in their business, owners can definitely increase traffic towards their trade. Scan to Pay provides a good first impression. By providing a QR code in any print media of the business, the customer gets all his information in one place rather than having to go around searching across different sites. Moreover, with a QR code made available, you help your customer save his time.
  • A business can also save money on advertising costs by using the Scan to Pay option to distribute a QR code to their website or URL, with all the information about the company. Moreover, in today’s digitalized age, a QR code scanner is more unique than a barcode scanner and thus adds finesse to your business.
  • With Scan to Pay’s QR code facility, payments take place via IMPS (Immediate Payment Services) and the money gets credited into the bank account instantly. With this service, merchants also do not need to worry about restrictions on a defined amount of money that can be accepted through a QR code.
  • Scan to Pay is highly secure means of making payments and transfers. This is mainly because there is no swiping machine required to transfer money to or from a bank account. This means that no merchant ID or phone number is required to make payments.
  • For those who use mobile banking apps for Scan and Pay, the apps act like a virtual debit card which you can use offline and online. Thus, there is no need to carry cash and cards with such apps. It is convenient and hassle- free banking.

Disadvantages of Scan to Pay:

  • Identity theft is rampant in today’s digital age. With cashless payment options like Scan to Pay, the risk of Identity risk is pretty high. Even people fall into phishing traps since most of us are not culturally tuned to digital transactions.
  • When you make payments with the Scan to Pay option, you need not give your ID or personal details. But, keep in mind that you can avail this facility only if you have a bank account and thus, your bank account is linked to the Scan to Pay facility. Thus, as more people hop on to the digital bandwagon, the risk of hacking increases.
  • Using this facility can lead you to be dependent on your phone for all your transactions. But the event that of you losing your phone can be a real casualty. There are various risks involved here where the Scan to Pay service leaves you uncovered. Firstly, with losing your phone, you are now susceptible to a higher identity theft risk. Secondly, you are now rendered helpless with no physical cash or cards with you. This can especially be problematic if you are abroad or are in small villages where payment and banking options are minimal.
  • Since Scan to Pay works with apps like Google Pay and others on an online platform, it can be difficult for those who are not tech- savvy to access this facility. This might especially be the case for the older generation who may find it difficult to make their payments on an online platform. Furthermore, this scanner facility is unavailable for those without a smartphone or the required applications.
  • Finally, when you have easy accessibility to make transfers and transactions at your leisure, it is possible for you to get carried away and overspend. Since there is no restriction on the number of transactions that can be made in a day, it is easy for you to spend above your budget.

To conclude, the Scan to Pay facility plays an important role in bringing together businesses and consumers on a wider scale, while ushering India into a cashless economy. What are you waiting for? Be a part of the digital India by availing this facility now!


Interest Rate
6%* p.a.
( 6.5% p.a. for Senior Citizens)(Open Kotak 811 and Book an FD to earn up to 7.00% interest)
Minimum Balance
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  • You can now avail the benefits of the banking solutions with a single touch
  • Kotak 811 offers a virtual debit card (VDC) for the ease of online banking
  • Ideal for all your daily needs such as shopping, groceries, cab payments, and various others
  • Earn 7.00% interest on fixed deposits and Senior Citizens can earn upto 6.5% p.a. To know more click
Interest Rate
(Up to Rs. 1 Lakh)
Minimum Balance
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  • Open an account only with the help of your Aadhar Card Can apply for this account at the micro ATM of IDFC Bank
  • Account offers Internet & mobile banking, free & unlimited ATM services, and various others.

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