EMVCo has created a unique royalty-free QR payment mark.
This QR Payment Mark has been created for the purpose of promoting global interoperability across EMV QR code payments, according to a recent EMVCo press release.
All implementers of EMV QR Code solutions can use the mark.
EMVCo developed reproduction requirements as well as a free licensing structure for the mark. This enables it to be used by all who want to implement EMV QR code payments.
The machine-readable quick response barcodes have grown in popularity over the years and are frequently used for making mobile payments at the point-of-sale. In fact, last year, EMVCo released EMV QR Code Specifications to address two widespread uses of these two-dimensional codes.
One of these prevalent uses is in the form of consumer-presented QR codes. This is where the consumer displays the code on their mobile device and an optical scanner is used by the merchant to read it. The second predominant use is merchant-presented QR codes. In this case, the merchant displays the code and the consumer uses their mobile device to scan the merchant’s code.
Merchants can use the new mark to inform consumers that they accept EMV QR code payments.
What’s more, supplemental messaging to consumers will inform them whether consumer-presented transactions or merchant-present transactions, or both forms of transactions, are supported. Additionally, the special QR Payment Mark may be used as an app indicator on a consumer’s mobile device when a consumer-presented transaction is initiated.
Technology Quotes That Invite Thought -
“As momentum builds for leveraging emerging technologies, EMVCo is committed to facilitating worldwide acceptance and interoperability for EMV QR Code payments,” EMVCo Executive Committee Chair Jack Pan stated in the press release.
“The development of a uniform, recognizable QR Payment Mark that can be used on a royalty-free basis is an important step towards providing a universally consistent experience for both merchants and consumers.”
EMVCo is the global technical body responsible for managing the EMV Specifications. It is collectively owned by American Express, JCB, Discover, MasterCard, Visa and UnionPay. It focuses on the technical advancement of the EMV Specifications.
It will be interesting to see what effect the newly created QR mark will have on EMV QR Code Payments.