The Rise of QR Codes: Changing the Face of Digital Payments
Digital payments are one of the most used form of transactions today in this tech driven world. India leads the way in cashless transactions, compared to rest of the world. Here, we will learn about qr code and how it works. Qr codes can be found in many shops today. A QR code, also known as “ Quick Response code ," is a two-dimensional barcode that was initially created in Japan in the 1990s. QR codes are designed to store information in a machine-readable format, and they have become increasingly popular for various applications due to their ability to store a wide range of data types. The working of QR code: Generation of a Payment QR Code: The recipient (merchant, individual, or organization) generates a QR code that contains payment information. This QR code is usually unique to each transaction and may include details like the recipient's payment address, transaction amount, and a description of the payment. Customer Scans the QR Code: The customer, usi...