Central bank to set standard for payments via QR code by June | BusinessWorld

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/

One thought on “Central bank to set standard for payments via QR code by June | BusinessWorld

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s