Issue accepting QR code payments for small business with current account (no business pan)

[rk2022]

Hello all,

I need some help in how to go about the situation we are in. We own a small business with current account in the name of the business. There is no business pan required for us.

Initially we used bharat pay QR code for accepting payment from merchants which go directly to current account. Now looks like something has changed and every provider is saying our pan doesn't match with current account name. When asked the bharat pay agent, he is saying you need to either register for business pan or use savings account which has same name as the pan.

This is so ridiculous considering sole prorperitiorships do not require any business pan. As of now, we can using QR code from the current account but it is getting difficult for employees to know if payment was sent or not as notification only goes to the account holder.

Anyone has any solutions or workarounds for this? Please advice.
Thanks!!

 

[D₹V]

@Abhishek012 @Tejo you might add on this.

 

[Abhishek012]

@Abhishek012 @Tejo you might add on this.

Mai kya bolu, Mai merchant account thorai khulwata hu.

 

[bsc0008]

We're also using similar kind of setup (proprietorship with Current account in business name). We're regularly using HDFC SmartHub Vyapar QR and BHIM app itself directly without any issues. One primary difference might be having a GST number might help.

 

[NAB]

Open a Current Account using your actual name (as per the name in PAN), Open a Merchant Account on that Current Account, and Change the Display Name to the Name of your choice/business.

Otherwise, GST registration will be required.

 

[sxchzy]

Hello all,

I need some help in how to go about the situation we are in. We own a small business with current account in the name of the business. There is no business pan required for us.

Initially we used bharat pay QR code for accepting payment from merchants which go directly to current account. Now looks like something has changed and every provider is saying our pan doesn't match with current account name. When asked the bharat pay agent, he is saying you need to either register for business pan or use savings account which has same name as the pan.

This is so ridiculous considering sole prorperitiorships do not require any business pan. As of now, we can using QR code from the current account but it is getting difficult for employees to know if payment was sent or not as notification only goes to the account holder.

Anyone has any solutions or workarounds for this? Please advice.
Thanks!!

opening a merchant account is much easier on paytm,airtel and google pay with personal pan as well

 

[Tejo]

Hello all,

I need some help in how to go about the situation we are in. We own a small business with current account in the name of the business. There is no business pan required for us.

Initially we used bharat pay QR code for accepting payment from merchants which go directly to current account. Now looks like something has changed and every provider is saying our pan doesn't match with current account name. When asked the bharat pay agent, he is saying you need to either register for business pan or use savings account which has same name as the pan.

This is so ridiculous considering sole prorperitiorships do not require any business pan. As of now, we can using QR code from the current account but it is getting difficult for employees to know if payment was sent or not as notification only goes to the account holder.

Anyone has any solutions or workarounds for this? Please advice.
Thanks!!

Yes the name on the current ac no. will not accepted because with few docs, we can request bank to change name, so they ask direct TPAN or gst.

I have doubt if it's small business, why you need CA?

If you don't business pan and gst, just go with.

Hdfc CA with SmartHub
Indus CA with indusdirect
Sbi CA with Yono merchant
Even the bob, pnb, kotak, c...t...a axis will provide merchant qr even pos on request.

One more doubt, why can't you use paytm merchant, if having issue with bhratpe?

 

[rk2022]

This account has been in use since long and is in the name of business (trade name per GST). Bharatpe was working fine but now every provider is saying the same (current account name doesn't match name on the pan) . I think some RBI rules have changed.

Changing to new bank is a headache now as we have been using this bank for long and need the same for loans etc.

 

[rk2022]

We're also using similar kind of setup (proprietorship with Current account in business name). We're regularly using HDFC SmartHub Vyapar QR and BHIM app itself directly without any issues. One primary difference might be having a GST number might help.

Can you please elaborate on this?
Are you having current account in HDFC?

How to get HDFC SmartHb Vyapar QR code for non-HDFC accounts? We have GST registration.

 

[rk2022]

opening a merchant account is much easier on paytm,airtel and google pay with personal pan as well

Tried but no luck every provider is saying the same (current account name doesn't match name on the pan)

 

[Tejo]

Can you please elaborate on this?
Are you having current account in HDFC?

How to get HDFC SmartHb Vyapar QR code for non-HDFC accounts? We have GST registration.

Nope currently for hdfc ac holders only.

 

[sxchzy]

Tried but no luck every provider is saying the same (current account name doesn't match name on the pan)

i have opened paytm google pay account without current acount

 

[rk2022]

i have opened paytm google pay account without current acount

Understand but then we want to use current account to isolate business transactions from personal for tax and gst purposes.

 

[bsc0008]

Can you please elaborate on this?
Are you having current account in HDFC?

How to get HDFC SmartHb Vyapar QR code for non-HDFC accounts? We have GST registration.

The current a/c is opened with HDFC using GST registration in the Business name + owner PAN. SmartHub registration & BHIM is a separate one using the registered mobile number & HDFC Current account.
I'm not sure if we can open SmartHub for non hdfc account holders. I'll check with my branch tomorrow and update.

 

[rk2022]

The current a/c is opened with HDFC using GST registration in the Business name + owner PAN. SmartHub registration & BHIM is a separate one using the registered mobile number & HDFC Current account.
I'm not sure if we can open SmartHub for non hdfc account holders. I'll check with my branch tomorrow and update.

Thank you so much!!

 

[avikrish]

Hello all,

I need some help in how to go about the situation we are in. We own a small business with current account in the name of the business. There is no business pan required for us.

Initially we used bharat pay QR code for accepting payment from merchants which go directly to current account. Now looks like something has changed and every provider is saying our pan doesn't match with current account name. When asked the bharat pay agent, he is saying you need to either register for business pan or use savings account which has same name as the pan.

This is so ridiculous considering sole prorperitiorships do not require any business pan. As of now, we can using QR code from the current account but it is getting difficult for employees to know if payment was sent or not as notification only goes to the account holder.

Anyone has any solutions or workarounds for this? Please advice.
Thanks!!

For getting payment notifications for multiple people apart from account holder, I am using below

1) PhonePe merchant allows multiple people to install the business app and login with your business details by inviting them using a specific role like cashier, manager, finance manager etc... Each role will have some features access.

2) Gpay for business, same as above but few features options only for others. Apart from account holder one more person can be enabled to get text messages as well (this may get removed in future as sms gateway charges are increasing)


3) Smart speaker of Phonepe which is sim based, chargeable Rs125/month

I don't have a good experience with Bharat pe , I took wifi based pos, suddenly they changed to sim based and they are charging me and no one is responding and I paid Rs3500 which is waste.


Any way, always as a merchant please don't depend on single entity, have multiple entities, and link all entities to single current account itself.

Maintain 2 current accounts just as a safety from different banks.

If you are looking for loans in future, or OD facility like that , try icici current account, the best in the business, they have a zero balance account as well if you give a intital funding (bank employee won't tell this but give your luck )

 

[rdargar]

We're also using similar kind of setup (proprietorship with Current account in business name). We're regularly using HDFC SmartHub Vyapar QR and BHIM app itself directly without any issues. One primary difference might be having a GST number might help.

Hi! I recently registered for SmartHub Vyapar around 7 days back with my Current account. The pay via QR/UPI option is working fine but accept payment via link is not working. When link is opened and card details entered it directly throws failure error without even opening bank page. any suggestions?