Ratnakar Bank is the first bank in India to integrate the Masterpass QR service into its digital wallet.

The service enables mobile banking customers to scan and pay using a QR code on their smartphone or feature phone in locations such as shops or taxis.

The bank’s wallet will host a virtual prepaid Mastercard card that customers can top up for making cashless transactions.

Digital payments can be made anywhere where Masterpass QR is accepted, as an alternative to cash or physical bank cards.

India is an overwhelmingly cash-based society, although the government recently made a dramatic, and controversial, move to push its citizens towards digital payments.

The credit card giant claims Masterpass QR is a low cost system that is easy to deploy, ensuring even small businesses can participate.