QR codes to be dropped by China Central Bank

no qr codes transaction ban

The financial institution has ordered the cessation of all mobile payments that use quick response codes. China’s central bank has recently released an order that will put a stop to all online mobile payments units of companies that are using QR codes to send and receive funds. This news has been confirmed by both Tencent and Alibaba, which had been using the barcodes. Both Alibaba and Tencent have been commanded to stop the use of QR codes in order to process the payments of its online sales, according to a…

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