Q. What does CAIT stand for?- Published on 09 Dec 16a. Conference of All India Traders
b. Confederation of All India Traders
c. Committee of All India Traders
d. Corporation of All India Traders
ANSWER: Conference of All India Traders
Quick Response code (QR code) technology is all set to dominate the digital payment system in the country and does not require any additional cost.
The Confederation of All India Traders (CAIT) is set to promote it as a seamless mode of transaction.
CAIT Secretary General Praveen Khandelwal said QR code is the most effective technology in digital payments.
In India, QR code technology is provided by all network providers including- RuPay,
- MasterCard,
- Visa,
- American Express
RBI's latest move was to develop One India QR code wherein all three payment technology companies namely Mastercard, Visa and RuPay have been asked to develop inter operable QR code solution.
This allows ease of accepting digital payments without the complication of managing multiple or competitive solutions available.
CAIT will be campaigning about the benefits of QR code across the country among the trading community.
