By Melissa Luz T. Lopez, Senior Reporter
THE CENTRAL BANK is looking to set a standard for quick response (QR) code payments by June, with the regulator eyeing two options for the new e-payment platform.
Vicente T. de Villa III, officer-in-charge of the BSP’s Financial Technology Sub-Sector, said industry players are considering the EMVCo and the URL standard for QR codes, which are among the widely used payment structures abroad.
QR codes are computer-generated images which are used for payments or fund transfers. An image, usually a black-and-white square pattern, is scanned via a smartphone camera which will then bring the user to a computer link or online payment portal to complete the transaction. Read more;https://www.bworldonline.com/central-bank-to-set-standard-for-payments-via-qr-code-by-june/