QR Code Press

QR code payment fraud in China’s radar with new caps

01/02/201812/30/2017 Julie Campbell

As popular as the mobile transactions may be, the country’s central bank is issuing new security regulations. China’s central bank is rolling out new regulations to help prevent QR code payment fraud. Quick response codes have become exceptionally popular in the country but have exposed consumers to fraudulent activities from criminals. Some of the most popular mobile payments apps in China currently use the barcodes to complete transactions. Both WeChat and Alibaba’s AliPay – two of the largest mobile payments apps in the country – use QR code payment technology…

QR code metro passes will soon be available to Shanghai riders

10/24/201710/21/2017 Jesse Collins

Commuters will be able to use their smartphones to scan quick response codes to pay for trips. A number of Shanghai metro stations have QR code metro pass codes to let riders scan to pay. These new mobile payments are meant to make it faster and more convenient for commuters to pay their fares. The subway passengers are able to pay for their tickets by using either of two mobile payments services. The two QR code metro fare services are Alipay and China UnionPay. Riders who use either of those…

Mobile payments popularity will be greater than credit cards in two years

10/12/201710/12/2017 Jennifer Goula

A new U.N. report underscored the skyrocketing growth of PayPal, Alipay and other blockchain based transaction systems. A United Nations report indicates that by 2019 mobile payments popularity will “overtake credit cards” in terms of online shopping use. The report pointed to blockchain using systems as primary drivers for the popularity of mobile transactions. The United Nations body released a report saying that digital currency systems of payment will see greater use in e-commerce than debit and credit cards by 2019. The mobile payments popularity report was released by a…

Chinese mobile payments are driving the country toward becoming cashless

07/03/201706/30/2017 Jesse Collins

People in the country have used cash for thousands of years but smartphones are rapidly replacing it. Chinese mobile payments are quickly gaining ground as the country goes increasingly cashless in favor of smartphones. Despite the popularity of cash and the fact that it has been used in China for millennia, its days may be numbered. This move toward mobile wallets is allowing much of the country to skip the use of plastic credit cards. In May, the Trump administration celebrated a bilateral deal with China, allowing American credit cards…

Fraudulent QR code plays central role in $13 million scam

03/10/201703/08/2017 L. Green

As commonplace as quick response code scanning may be in China, scams are becoming a problem. Many residents of the Chinese city of Guangzhou fell victim to a fraudulent QR code that scammed them out of millions of dollars. The scam stole an estimated RMB90 million (about US$13.03 million) from unsuspecting smartphone users. The use of quick response codes has become exceptionally commonplace in China. They are used as a part of mobile payments to let people complete transactions at the local convenience store. They are found on product packaging…