EU QR Codes for Payments

On 28 February 2022, the European Payments Council (a banking industry body) published a reminder on its recent consultation paper on QR codes for mobile credit transfers (MSCTs) for person-to-person (P2P), consumer-to-business (C2B), business-to-business (B2B) and business to consumer (B2C) payments.

Responses are requested by 14 April 2022.

QR (or ‘quick response’) code payment is an alternative to doing electronic funds transfer at the point of sale using a payment terminal. You can pay with a QR code with a contactless swipe of a mobile app. However, QR code payments are not risk-free; read these tips to protect yourself from QR code payment scams.

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