QR codes are everywhere nowadays, from your local kirana store to Bhat Bhateni, in newspapers as shortcuts to links, and on Viber or online messaging apps to share contacts. You can easily find them or generate them online too. But do we know what exactly they are?
QR: Standing for Quick Response, a QR code is an image with a square pattern that holds encoded data. It is similar to a barcode you may see on products in stores but can hold much more data. While you might not be aware, there are actually two types of QR codes; Static codes that cannot be altered once they’ve been created, and dynamic QR codes that can be edited and shared. Both can be found broadly used in this age of digital dependency, but the most frequent use we see is payments; online, in-store, and even peer-to-peer transfers.
With QR codes, money transfers don't require you to manually enter account numbers or bank information; all you need is access to your phone's camera, add a payment amount, and write a remark to make your online payment.
Here is how to make faster payments with QR codes, a Step-by-step guide to QR payments:
- Start by opening your mobile banking app.
- Click the "Scan QR" tab. This will open your camera, and all you have to do is scan the QR code you want to make a payment to.
- When the scan is completed, you will be required to enter the payment amount and details to complete the transfer.
- Enter your transaction pin and easily make the QR payment.
- Congratulations your payment has been made!
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