Meaning
QR code payment refers to making payments by scanning a Quick Response (QR) code using a digital app. The QR contains merchant or account details that are read instantly by the app.
Examples
- Paying taxi fare by scanning the driver’s QR.
- Restaurant bill payments through QR codes.
- Donations to charities via QR.
Importance
- Eliminates the need for typing account numbers.
- Reduces chances of errors.
- Makes payments faster and simpler.
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