What is QR code based payment?
I precisely remember the first time when I saw a QR code. I thought that it was just a fancier version of a barcode. Later on, I was pleasantly surprised to see how different and advanced this technology turned out to be. Today, we all are well familiar with the iconic black and white square design of a QR code. The increased penetration of smartphones and access to high-speed internet has led to the massive adoption of the QR codes. That’s the reason why we see it almost everywhere whether it’s for shopping, movies, ads, etc. What is a QR Code? QR Code refers to a quick-response code. It is a trademark name for the 2-dimensional barcode system containing information and is an example of an information matrix barcode. QR codes are often considered similar to barcodes however; a significant difference between the two is that while the barcodes hold information only in the horizontal direction, QR codes can store information vertically as well. Recently QR codes are being used in multipl...