The guidelines are designed to encourage consistency in how QR codes are used for payments in Australia and will be voluntary for merchants, financial institutions, and payment serviced providers.
The increased popularity of QR codes for payment transactions in the country is attributed to the COVID-19 pandemic and has been seen as an easy, contactless payment method by all consumers having access to a smartphone. At the same time, merchants and sellers don’t require additional specific hardware or acceptance devices to process the payment, thus reducing the barriers and promoting an easy, secure, frictionless, and fast process.
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