Australian Payments Network (AusPayNet), the payments industry self-regulatory body, has published guidelines for Quick Response (QR) codes as a payment method.

The guidelines will be voluntary for financial institutions, payment service providers, merchants and other payments industry participants and are designed to encourage consistency in how QR codes are used.

The growing popularity of QR codes for payment transactions is attributed to their ready adoption by consumers using a smartphone and the fact that QR code payments do not require specific hardware or acceptance devices, reducing barriers for merchants.

QR codes also allow richer data to be encoded in a payment transaction, making them useful when transactions are linked to loyalty, identity and reconciliation applications.

AusPayNet’s QR code payment guidelines are set out in two separate documents. These outline an EMVCo Merchant-Presented Mode (MPM) QR Code Standard and a Short QR Code Standard.

If you found this article helpful, then subscribe to our news emails to keep up to date and look at our video courses for in-depth training. Use the search box at the top right of this page or the categories list on the right hand side of this page to check for other articles on the same or related matters.

Author: David Jacobson
Principal, Bright Corporate Law
Email:
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.