QR code payment

A QR code payment is a mobile 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]