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QR code payment information


QR code payment is a contactless payment method where payment is performed by scanning a QR code from a mobile app.[1] This is an alternative to doing electronic funds transfer at point of sale using a payment terminal.[2] This avoids a lot of the infrastructure traditionally associated with electronic payments such as payment cards, payment networks, payment terminal and merchant accounts.

To make a QR code payment, the consumer scans the QR code displayed by the merchant with their smartphone to pay for their goods.[3] They enter the amount they have to pay and finally submit.[3] This is a more secure card-not-present method than others.[3]

  1. ^ "Scan to pay. How QR code payments work – Dignited". 11 January 2018.
  2. ^ "China begins regulating QR code payments". 28 December 2017.
  3. ^ a b c "How QR codes are changing e-commerce". 19 October 2017.

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taking payments over the phone.[promotional source?] Mobile payment systems such as those based on QR code payments bypass the need for payment terminals...

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companies aimed to reduce costs by unifying overlapping services such as QR code payment, and increase traffic between the approximately 200 services they offer...

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Wallet app. QR code payment codes are used for local in-store payments. The Alipay app also provides features such as credit card bill payments, bank account...

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