QR Payment code

Payment via QR code

Payment via QR code is currently the most popular cashless payment method due to the many benefits it offers users, such as fast transfers and accurate information. This article will help you gain a deeper understanding of QR payment codes, their benefits, how to use them, and answers to some frequently asked questions about using QR code payments.

1. What is QR code payment?

QR code payment is a cashless payment method that allows users to utilize the “QR code/QR Pay” scanning feature integrated into payment applications to conduct money transfer or receipt transactions.

Currently, many entities provide QR code payment services, including banks, e-wallets (ZaloPay, MoMo, VNPAY, Viettel Pay, VTC Pay…), and other organizations (VietQR, etc.). (PAYQR.VN)

Payment QR codes operate in three forms: Static QR code, Dynamic QR code, and Semi-dynamic QR code. Below is a table describing the characteristics, features, and uses of these three types of QR codes:

Types of QR Codes : Static QR Code , Dynamic QR Code, Semi-dynamic QR Code

Features

• Static QR Code: Contains fixed information of one payment account (bank name, account number, and account holder’s name).

• Dynamic QR Code: Generated for each transaction, it contains pre-filled payment details for the corresponding order (recipient account information, amount, and payment description).

• Semi-dynamic QR Code: Includes similar information as a static QR code, but allows the seller to pre-fill the payment amount and payment description.

Usage Scope

• Static QR Code: Applicable for all payment transactions via QR code.

• Dynamic QR Code: Applicable for a single payment transaction.

• Semi-dynamic QR Code: Applicable for transactions with the same payment amount.

Application

• Static QR Code: Can be shared online, printed, and displayed for payments anytime, anywhere.

• Dynamic QR Code: Expires after successful payment for the transaction. Not suitable for printing or displaying for payment.

• Semi-dynamic QR Code: Can be shared online. Printing or displaying for payments is not recommended due to limited usage scope.

Implementation

• Static QR Code: Users scan the QR code, input the payment amount and description, and then verify the transaction.

• Dynamic QR Code: Users scan the QR code and verify the transaction.

• Semi-dynamic QR Code: Users scan the QR code and verify the transaction.

It is evident that each type of QR code has its own unique features and applications, catering to the different needs of users. Let’s explore the benefits of QR code payment methods in the next section.