User:Kc3742/QR code

QR code payment
Main article: QR code payment

QR codes can be used to store bank account information or credit card information, or they can be specifically designed to work with particular payment provider applications. There are several trial applications of QR code payments across the world. In developing countries like China, India and Bangladesh QR code payment is a very popular and convenient method of making payments. Since Alipay designed a QR code payment method in 2011, mobile payment has been quickly adopted in China. As of 2018, around 83% of all payments were made via mobile payment.

In November 2012, QR code payments were deployed on a larger scale in the Czech Republic when an open format for payment information exchange – a Short Payment Descriptor – was introduced and endorsed by the Czech Banking Association as the official local solution for QR payments. In 2013, the European Payment Council provided guidelines for the EPC QR code enabling SCT initiation within the Eurozone.

In 2017, Singapore created a taskforce including their Government Agencies such as the Monetary Authority of Singapore and Infocomm Media Development Authority to spearhead a system for e-payments using standardized QR code specifications. These specific dimensions are specialized for Singapore’s market. With the use of SGQR, customers will scan a single SGQR label rather than many. This will show all the different types of QR payment options that the merchant would accept. This allows the merchants to accept multiple types of e-payments without having to worry about the cost for many different payment platforms.

A single SDQR label contains e-payments and combines multiple payment options. Once consumers spot the SGQR label, they will be able to scan it and see which payment options the merchant accepts. The SGQR scheme is co-owned by MAS and IMDA.

Efficiency
QR codes may increase efficiency, versatility, and reliability when it comes to circulating information between people. QR codes could also be used by businesses and corporations to promote sharing and networking and allow for multi-media content. Some uses include generating marketing analytics to improve customer experience with curated content.

On an everyday basis, QR codes can provide realtime information on when the next bus, train or subway will arrive. QR codes are also implemented next to paintings and sculptures at museums for visitors who want to learn more about the artist, and the artwork's time period.