Explanation:

Bharat QR code is developed by National Payments Corporation of India (NPCI). BharatQR, developed by NPCI, Mastercard, and Visa, is an integrated payment system in India. The system, which was launched in September 2016, facilitates users to transfer their money from one source to another. The money transferred through BharatQR is received directly in the user's linked bank account.
About QR Code –
The QR code or Quick Response code is a two-dimensional machine-readable code, which is made up of black and white squares and is used for storing URLs or other information. These can easily be read by the camera of a smartphone.

Hence option 1 is correct answer