According to the Reserve Bank of India, the country's payment system operators can no longer issue new proprietary QR codes for mobile payments. The decision is part of the RBI's plan to implement a fully interoperable QR code infrastructure in 2022, according to a report in NFCW.

India's two existing interoperable QR codes, UPI QR and Bharat QR are allowed to continue for now, while payment system operators using proprietary QR codes will have to shift to one or more interoperable QR codes.

The RBI says it's working to improve and standardize the interoperable QR codes, which the bank said in the report will "reinforce the acceptance infrastructure, provide better user convenience and enhance system efficiency."