Contact less Payments — QR Code

Background

QR (Quick Response) found its origin in Japan to overcome the limitation of Barcodes. Barcodes solved a significant problem in retail cash registers wherein the cashier could scan the barcode on an item at checkout. The price associated with that item would get displayed, tremendously decreasing the checkout times. Barcodes could store only limited information (20 or so alphanumeric characters), and users went to DENSO CORPORATION, barcode developers at that time, requesting enhancements in barcodes that could store more information.

Whats Inside QR code image?

Lets analyze a very simple QR code below

Static QR code at merchant — One time QR code Printout at checkout!

Simplest of all cases and most popular in developing countries or small merchants. A static QR is obtained by merchant and can be displayed at the checkout counter as simple printout,image stuck on a wall etc. The shopper will pull out their smartphone and scan the QR code the shopper will then punch in the purchase amount and finish the transaction.

Dynamic QR code at merchant-transaction specific QR Code

This use case is slight variation to above use case,here the merchants QR code must be dynamic,i.e must have the amount that the shopper purchased. Merchant can use their phone to generate a dynamic QR code with transaction amount.The shopper will then scan the dynamic QR code from their phone and finish the transaction.

Peer-Peer Money Transfer

This use case is similar to a dynamic merchant use case .However the two parties involved here can be friends and need not be a merchant and a shopper.

Public Transit Payment Collection

In this use case the merchant can have a preset amount for a sale . The passenger will enter the amount generate a QR code and display it at the gate to finish the transaction.

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