Standard QR code to be announced this month

Visitors use QR code functions at a fashion show in Bangkok. QR codes will soon be applied to customers' electronic payments through financial institutions, with the Bank of Thailand to announce a standardised QR code later this month. (Bangkok Post file photo)

The Bank of Thailand will announce its standardised quick response (QR) code for electronic money payments later this month, Finance Minister Apisak Tantivorawong said on Wednesday.

With a standard code, financial institutions would be able to introduce QR code-based payment services, he said.

QR services bear lower costs than payment with cards and electronic data capture (EDC) terminals, the minister said. Forgery is impossible and fraud is rare with QR payments, unlike payment with credit cards.

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