The bank’s new solution has integrated the quick response codes due to their security and versatility. The topic of QR code transactions generates a considerable amount of controversy in the mobile payments industry. Some experts debate that they are simple, affordable and available to most smartphone users. Others say they are inadequate and will never take off. Bitcoin has been using QR code transactions for quite a while and is seen as strong support for the barcodes. The Dutch “fintech bank” Bunq has now integrated QR code transactions into their…
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QR codes to be dropped by China Central Bank
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…
Read MoreQR codes to be used by Mobile Privat24 for contactless payments
Transactions can be completed with the scan of a barcode by iOS and Android devices. PrivatBank has just announced the release of the latest version of its Privat24 mobile payments app for Android and Apple iOS devices, which is centered around QR codes. The service is available to smartphone using customers without a contract. The bank has made this latest launch in order to keep up with what it feels are the expectations of today’s customers. They believe that smartphones will become an important part of electronic banking, and that…
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