EMVCo is specifying a universal QR Code to facilitate tokenized mobile payments, and the global standard QR Code is expected to be introduced to the Taiwan market in the fourth quarter of 2017, with prevailing use to kick off by the end of 2018 at the earliest, according to VISA Taiwan country manager Macro Ma.
While 76.6% of smartphone-based mobile payment users in the Taiwan market use QR Codes, systems vary among third-party mobile payment services currently. The EMVCo-specified universal QR Code is expected to hike QR Code penetration among smartphone-based mobile payment services.
EMVCo is the global technical body that facilitates the worldwide interoperability and acceptance of secure payment transactions by managing and evolving the EMV Specifications and related testing processes. EMVCo is collectively owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa. To provide all payment stakeholders with a platform to engage in its strategic and technical direction, the EMVCo Associates Programme receives significant input from its Business and Technical Associates, which consist of industry participants including issuers, acquirers, payment networks, merchants, manufacturers, technology providers and testing laboratories from numerous countries.
Source: digitimes.com
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
