De-jargoned: Quick response code for payments2 min read 03 Nov 2015, 06:33 PM IST
It is a code that is machine-readable. It is usually in a black and white matrix and can be read by a smartphone
In October, mobile wallet company Paytm launched a quick response (QR) code-based payment option in its mobile phone app. ICICI Bank Ltd, the country’s largest private bank by assets, too, launched a QR code-based payment option in Bengaluru last month. ePaisa, a fintech company, allows payment via bitcoins using QR code. With more companies offering the QR code option, here is a look at how it works in the payments space.
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