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What is QR code payment?: QR code payment is a contactless payment method where payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at point of sale using a payment terminal. This avoids a lot of the infrastructure traditionally associated with electronic payments such as payment cards, payment networks, payment terminal and merchant accounts.

To use a QR code payment the consumers scans the QR code displayed by the merchant with their phones to pay for their goods. They enter the amount they have to pay and finally submit. This is a more secure card-not-present method than others.

You might be seeing little barcode like square things wherever you go, from grocery shops to airports, and even Snapchat. Seeing these things everywhere, you are probably wondering what they are, these square barcode-like things are known as Quick Response codes, or QR codes. 

With the recent boom in the use of QR, it is very likely for most of us to think that they are recent developments, but in reality, they have existed since 1994. QR code is a barcode that contains a matrix of dots which can be scanned using a QR scanner app in Smartphones.Once scanned, these QR codes often direct a user to a website or an application.

Today, QR codes are used in almost every sector from storing contact information or directing users to your company’s blog, and even making online paymen...