Last Updated on: 26/03/2024
IOB-QR FAQs
1. What is a QR code payment system?
- A QR code payment system is a digital payment method that allows users to make transactions by scanning QR codes using their smartphones or other devices.
2. How does the QR code payment system work?
- In a QR code payment system, merchants display a QR code containing payment information such as the transaction amount and merchant details. Users scan the QR code using a mobile banking app or a designated payment app, confirm the transaction, and the payment is processed instantly.
3. Where can I use the QR code payment system provided by Indian Overseas Bank?
- You can use Indian Overseas Bank's QR code payment system at various merchant outlets, retail stores, restaurants, online platforms, and other establishments that accept QR code payments.
4. What types of transactions can I make using Indian Overseas Bank's QR code payment system?
- Indian Overseas Bank's QR code payment system allows you to make various transactions including retail purchases, bill payments, fund transfers, donations, and more.
5. How do I make a payment using Indian Overseas Bank's QR code payment system?
- To make a payment using Indian Overseas Bank's QR code payment system, open your mobile banking app or a designated payment app, scan the QR code displayed by the merchant, enter the transaction amount, and confirm the payment.
6. Is it safe to use Indian Overseas Bank's QR code payment system?
- Yes, Indian Overseas Bank's QR code payment system follows stringent security protocols to ensure the safety and confidentiality of transactions. It uses encryption and tokenization to protect sensitive data.
7. What should I do if I encounter any issues while making a payment using Indian Overseas Bank's QR code payment system?
- If you encounter any issues while making a payment using Indian Overseas Bank's QR code payment system, contact the merchant's customer support or Indian Overseas Bank's customer support for assistance.
8. Can I use Indian Overseas Bank's QR code payment system for online purchases?
- Yes, Indian Overseas Bank's QR code payment system can be used for online purchases on websites and mobile apps that support QR code payments.
9. Are there any fees associated with using Indian Overseas Bank's QR code payment system?
- Indian Overseas Bank may levy nominal fees for certain QR code transactions. However, users generally do not incur any charges for using the QR code payment system unless specified by the bank.
10. Can I track my QR code payment transactions through Indian Overseas Bank's mobile banking app?
- Yes, you can track your QR code payment transactions through Indian Overseas Bank's mobile banking app. Transaction details such as the amount, date, and merchant name will be available in your transaction history.
11. Is there a limit on the amount I can transact using Indian Overseas Bank's QR code payment system?
- Indian Overseas Bank may impose transaction limits on QR code payments, depending on factors such as the type of transaction, user profile, and regulatory guidelines. Check with the bank for specific transaction limits applicable to your account.
12. Can I make QR code payments to individuals or businesses outside India?
- Indian Overseas Bank's QR code payment system is primarily designed for domestic transactions within India. Transactions to individuals or businesses outside India may not be supported.
13. How can I ensure the accuracy of the transaction details before making a payment using Indian Overseas Bank's QR code payment system?
- Before confirming a QR code payment, verify the transaction details displayed on your mobile banking app or payment app, including the transaction amount and merchant details, to ensure accuracy.
14. Can I use Indian Overseas Bank's QR code payment system if I don't have a smartphone?
- If you don't have a smartphone, you may not be able to use Indian Overseas Bank's QR code payment system directly. However, you can opt for alternative payment methods offered by the merchant.
15. Is there a customer support helpline available for assistance related to Indian Overseas Bank's QR code payment system?
- Yes, Indian Overseas Bank's customer support is available to assist users with any queries or issues related to the QR code payment system. You can contact the bank's customer support through phone, email, or visit the nearest branch for assistance.
16. How do I make a payment using Indian Overseas Bank's QR code payment system?
- To make a payment, simply open Indian Overseas Bank's mobile banking app or designated payment app, scan the QR code displayed by the merchant, enter the transaction amount, and confirm the payment.
17. Can I track my QR code payment transactions through Indian Overseas Bank's mobile banking app?
18. Is there a limit on the amount I can transact using Indian Overseas Bank's QR code payment system?
FAQs on INSTA QR
What is "Insta QR"?
❱ It is a pre-printed QR codes provided by Indian Overseas Bank which will help instantaneous activation of QR code immediately upon its issuance and transactions can be done at once.
What is the benefit of the Insta QR to customers?
❱ The funds will be received immediately in the merchant's account with no need for waiting for the amount to be credited on T+ 1 or T+2 basis
Who are the Target group for Insta QR?
❱ Indian Overseas Bank existing and new customers.
What are the charges to be recovered from the customer for the Insta QR?
❱ NIL Charges payable by the customer
FAQ on QR Sound Box to merchants
What are the Charges/Fees for Merchants (to be paid upfront)?
❱ One-time setup and installation fee of Rs.1640/ +GST-.
❱ Yearly maintenance charge of Rs.550/- + GST.
What are the other Terms & conditions for the QR Sound Box to merchants?
❱ Sound box will be delivered with fixed 1 Year warranty which will cover the device for any kind of manufacturing defects from the date of device activation.
❱ Any defects which are not covered under warranty, cost for repair or replacement will be borne by the merchant.
❱ The contract is automatically renewed unless cancelled by the merchant giving one- month notice to the bank or cancelled by the bank itself by providing valid reasons.
❱ The charges collected for the device and annual maintenance cost are non- refundable.
Time limit for discontinue the facility QR Sound Box to merchants?
Merchant can discontinue the facility by giving one-month notice to the bank. However, no refund would be provided
Consequences of default in annual maintenance cost?
FAQs on IOB UPI Vyapar App for UPI QR Merchants
What is IOB UPI Vyapar App?
❱ IOB UPI Vyapar App for UPI QR Merchants is available in Google Play store for IOB Merchants. Merchants can download the app from Play store and install the application in their android hand set. It will be shortly extended to iOS handsets also.
❱ During installation OTP will be sent to the registered mobile number used during on boarding of merchant on UPI QR code. With the OTP the application can be installed in the Smart Phone Device.
What are the features of UPI Merchant App?
❱ Product features of UPI Merchant App
In-app Static QR code display for receiving payments
What are the applicable charges for the UPI Merchant App?
❱ This will be a very useful App for the small merchants who are not in a position to invest in QR sound box but own a smart phone can use this application free of cost.
Who are eligible for the IOB UPI Vyapar?
❱ All our existing merchant / customers
❱ All type of business people right from small to large can enjoy the benefit of our direct UPI merchant App without any extra cost.