Payments Council to create common QR code for Singapore — Singapore Business Review — “The newly established Payments Council formed an industry taskforce to develop a common QR code for Singapore (SGQR)… Stakeholders in the SGQR include banks, payment schemes, QR payment service providers, and relevant government agencies.”
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While NFC is a very convenient way to exchange payment information, it requires mobile devices that implement the necessary radio. Going forward, we can expect that to be most, but currently it is only the newest and most expensive. However, most mobile devices already have the camera and display necessary for optical communication using QR tags and bar codes.