QR code payment
Barcode-based contactless payment method / From Wikipedia, the free encyclopedia
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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]