QR code payment

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QR code payment is a contactless payment method where a 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 use a QR code payment the consumers scans the QR code displayed by the merchant with their phones 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]


The first mobile wallet app for cryptocurrency Bitcoin featured sending and receiving payments with QR codes in 2012.[4]

In 2014, Chinese technology company Tencent introduced a new feature on its messaging app WeChat to allow it's users to make payments. This was introduced via in-app online wallet and a QR Code payment system.[5]


Line 1 of the Mumbai Metro in India allows users to purchase a ticket on their phones using QR code payments. Instead of swiping an RFID card or single-use token, a QR code is generated on the Paytm app which is then read by a scanner mounted on the turnstile.[6]

Notable service providers[edit]

Standards also exists to determine the content of the payment QR codes like the EPC QR code in Europe.


  1. ^ "Scan to pay. How QR code payments work - Dignited". 11 January 2018.
  2. ^ "China begins regulating QR code payments".
  3. ^ a b c "How QR codes are changing e-commerce". 19 October 2017.
  4. ^ Andreas Schildbach (August 6, 2012), Google Playstore: Bitcoin Wallet
  5. ^ Derrick A Paulo (October 29, 2017). "WeChat phenomenon: How a messaging app helped spark China's cashless revolution".
  6. ^ "Paytm introduces QR-based metro tickets for Mumbaikars". Business Today. 17 November 2017. Retrieved 17 November 2018.
  7. ^ "Masterpass® QR: collect e-payment without POS terminal". mea.mastercard.com.