EMVCo standardizes QR codes for mobile payments

Payments standards body EMVCo has published “EMVCo QR Code Specification for Payment Systems: Consumer-Presented Mode”, a technical specification that marks the organization’s first move into standardizing the use of QR codes for mobile payments. “EMVCo’s activity in this area is providing specifications pertaining to the use of QR code for payment purposes,” the standards body says. “To this end, the QR code serves as a one-way communication between the point of interaction and a mobile application in a consumer device. EMVCo’s areas of focus are consumer-presented QR codes and merchant-presented QR codes.”