QR code payments get one step closer in China

qr code payments

The central bank in the country is working on creating standards for the use of quick response codes. QR code payments have spent years in a state of limbo. There has been a ban on using quick response codes for mobile payments due to a lack of regulations. That said, the central bank is getting ever closer to drafting security and tech standards for QR codes in combination with mobile transactions. Once the regulations have been passed, it will allow third party payment providers to offer rapid verification processes. This…

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