EMVco Releases QR Code Specifications for Mobile Payments

EMVco, the card-network owned standards-setting body that promotes EMV implementation globally, has released two specifications aimed at helping standardize the use of QR codes in payments. QR codes, which process in-person payments using card-not-present technology, are popular in many parts of the world for enabling mobile payments at the point of sale using scannable barcodes. In the U.S., several banks and retailers, including Walmart, Chase and others, have leveraged QR codes in highly publicized mobile payment initiatives.

EMVco yesterday officially announced the availability of two specifications: one for consumer-presented solutions where the customer displays the QR code and the merchant scans it and the other for merchant-presented solutions where the merchant displays the barcode and customers scan it on their device.

“With the increasing deployment of QR Code payment methods, it is important that the payments ecosystem provides a consistent experience for merchants and consumers,” said Cheryl Mish, chair of the EMVCo board of managers. “Given the early stage of deployment of this emerging payment technology and growing adoption, now is the time to ensure the technology’s potential is not constrained in the future due to interoperability issues with the established payment infrastructure.”

Mastercard already announced its plans to incorporate the standard in an expanded QR code solution that will include both merchant- and consumer-presented methods. The company said its experience in India and Africa with QR code solutions helped inform its work and it expects more QR code implementations globally.

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