News • 11.08.2017

Visa supports the new global QR Code Payment Specifications

Simplifies onboarding for small and medium-sized merchants who want to deploy QR code digital payments

Photo: Visa supports the new global QR Code Payment Specifications...
Source: panthermedia.net/prykhodov

Visa announced its support of the new global QR Code Payment Specifications from EMVCo, the global technical body that manages the EMV Specifications. The specifications cover consumer-presented and merchant-presented QR code use cases for digital payment acceptance. QR codes are two-dimensional machine-readable barcodes, used to facilitate mobile payments at the point-of-sale.

Visa and the other EMVCo Members worked to develop these new globally interoperable EMV specifications. Visa has already successfully enabled the merchant-presented QR technology in 15 countries around the world, with India, Kenya and Nigeria currently live in market with both bank and merchant partners.

“We’ve already seen tremendous progress towards adoption of standardized, interoperable QR code payment systems in the developing world,” said Sam Shrauger, SVP, Digital Products, Visa. “We are working with governments and central banks in countries like India to develop and implement QR code payment solutions that provide the convenience and security that are synonymous with Visa and help the journey toward a cashless future.”

Easy implementation for merchants

Visa has enabled the growth of merchant-presented QR code payments around the world with its innovative mobile payments solution, mVisa. mVisa allows consumers to pay for goods and services by scanning a QR code on a smart phone or entering a merchant number into their feature phones. Payment goes straight from the consumer’s Visa account into the merchant’s account and provides real-time notification to both parties. mVisa is completely interoperable, meaning that the consumer and the merchant do not need to be customers of the same bank. This brings the same convenience, security and reliability provided by the trusted Visa brand.

For merchants eager to harness the power of QR code payments, the Visa Ready Program has adopted the interoperable QR standards to develop tools and capabilities which help easy generation and deployment of QR code merchants by banks, processors and merchant aggregators. Once enrolled, merchants can freely accept payments from any country or bank given mVisa’s interoperability while trusting Visa will securely and efficiently process each transaction.

QR code payments driving a cashless future

As digital payments help continue a shift toward a cashless future, this new global specification is an important step that promotes interoperability and standardizes the fast growing ecosystem of QR code payments across the world. Already, 33 banks and more than 328,000 merchants across India, Kenya and Nigeria have adopted the interoperable standards as they accelerate their QR code digital payment programs.

“mVisa enables successful completion of the transaction independent of the mobile operator service on both the consumer and the merchant’s phone, and the consumers and merchant’s banks,” said Shrauger. “This addresses a major challenge with mobile money programs, and lets consumers and merchants choose their own bank or mobile operator.”

Reserve Bank of India has encouraged the adoption of standardized QR code payments to provide access to low-cost, secure digital payments to millions of consumers and merchants. Working with our partners, Visa is converting both everyday and recurring cash purchases to digital payments through direct integrations with supermarket chains and large utility billers. By presenting dynamic QR codes to consumers that provide a seamless payment experience, billers such as Tata Sky, Idea Cellular, Reliance Energy, Mahanagar Gas, as well as Pizza Hut and supermarket chains Nakumatt, Spar, and Zucchini, are bringing benefits of digital payments to millions of potential customers.

Visa intends to replicate this success in 12 other countries where mVisa has been enabled: Cambodia, Egypt, Ghana, Indonesia, Kazakhstan, Malaysia, Pakistan, Rwanda, Tanzania, Thailand, Uganda and Vietnam.

Source: Visa

related articles:

popular articles:

Thumbnail-Photo: Effective and Independent
12.02.2020   #epos systems #cashpoints

Effective and Independent

Present and future of self-checkout

Better use of personnel, lowering overhead costs while still providing customers with a smooth and seamless shopping experience – that’s what every retailer strives to accomplish. For Thomas Dibbern, CEO of ALMEX GmbH, there is an ...

Thumbnail-Photo: Light up the future with Posiflex at EuroShop 2020...
11.02.2020   #kiosk terminals #Trade fair special EuroShop 2020

Light up the future with Posiflex at EuroShop 2020

Serviced IoT solutions: personalized, flexible and connected

The Posiflex Group, a synergy of world-leading POS, kiosk, and industrial computing technologies — will bring its Serviced IoT solutions to EuroShop 2020, the leading Europe trade fair for the retail industry, from February 16th – 20th ...

Thumbnail-Photo: Smart digital labels and pricing automation
07.02.2020   #displays #electronic shelf labels (ESL)

Smart digital labels and pricing automation

SES-imagotag at EuroShop 2020

For 25 years, SES-imagotag has been the trusted partner of retailers for in-store digital technology. SES-imagotag, the worldwide leader in smart digital labels and pricing automation, has developed a comprehensive IoT and digital platform that ...

Thumbnail-Photo: Wireless with SVN-Flex from SALTO
20.01.2020   #security #security management

Wireless with SVN-Flex from SALTO

SALTO has launched SVN-Flex, a new technology that enables virtual networked access control solutions

In the solutions wireless electronic escutcheons and cylinders act as wire-free updaters. This leads to greater efficiency, security and convenience.The innovation of the SVN-Flex is that users no longer necessarily need hard-wired wall readers to ...

Thumbnail-Photo: Stay safe with VariPOS
11.05.2020   #cashpoints #terminals

Stay safe with VariPOS

How technology helps – Stay safe at the point of sale

Technologies for product identification and payment authentication are great for improving the customer experience with speed and accuracy, but these technologies are also being seen as beneficial in the wake of the Coronavirus Pandemic. ...

Thumbnail-Photo: Self-Service for the ultimate customer experience...
19.02.2020   #brick and mortar retail #self-checkout systems

Self-Service for the ultimate customer experience

EuroShop 2020: iXtenso spoke with Diebold Nixdorf

Diebold Nixdorf as a leader in connected commerce offers innovative technologies for the optimized mix of self-service and checkout systems. With the program Storerevolution™ their solutions are a benefit for customers and retailers at the ...

Thumbnail-Photo: Solid Lines 2020, a product range …
01.02.2020   #refrigeration cabinets #Trade fair special EuroShop 2020

Solid Lines 2020, a product range …

… designed with the idea of generating unforgettable shopping experiences

New architectural and design concepts are appearing in the conceptualization of current supermarkets, especially aimed at improving the customers' shopping experience by incorporating solutions that generate value, allowing to optimize energy ...

Thumbnail-Photo: Cutting through the tax jungle
25.02.2020   #online trading #e-commerce

Cutting through the tax jungle

Startup helps online retailers to be fully compliant with European VAT regulations

Anyone who sells goods online is obliged to pay value-added tax (VAT). The amount depends on the respective national regulations. But what happens if you have cross-border exports and transactions? How much VAT do sellers have to pay in this case ...

Thumbnail-Photo: The cash register capable of everything
18.02.2020   #customer satisfaction #epos systems

The cash register capable of everything

Flexible use from manned checkout to self-checkout point

Customers walking through the store with their own cash register on hand? This versatility of shop technology and shop fittings corresponds to the change in brick and mortar retail. MAGO wants to help retailers to meet this challenge with ...

Thumbnail-Photo: Password? No need!
09.03.2020   #mobile payment #security

Password? No need!

Interview with Dr. Daniel Schellenberg, COO of IDEE GmbH

Do you have an existing user account? Did you forget your password? No doubt, those are some annoying questions when you shop online. The brains behind IDEE agree and leverage your "digital identity" to make surfing and online shopping ...

Supplier

ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
Diebold Nixdorf
Diebold Nixdorf
Heinz-Nixdorf-Ring 1
33106 Paderborn
MAGO S.A.
RUSIEC ALEJA KATOWICKA 119/121
05-830 Nadarzyn
POS TUNING Udo Voßhenrich GmbH & Co KG
POS TUNING Udo Voßhenrich GmbH & Co KG
Am Zubringer 8
32107 Bad Salzuflen
HappyOrNot
HappyOrNot
Innere Kanalstraße 15
50823 Köln
GLORY Global Solutions (Germany) GmbH
GLORY Global Solutions (Germany) GmbH
Thomas-Edison-Platz 1
63263 Neu-Isenburg
Checkpoint Systems GmbH
Checkpoint Systems GmbH
Ersheimer Str. 69
69434 Hirschhorn a. Neckar
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Burkhardt Leitner Modular Spaces GmbH
Olgastrasse 138
70180 Stuttgart
SES-imagotag Deutschland GmbH
SES-imagotag Deutschland GmbH
Bundesstraße 16
77955 Ettenheim