BSP gives banks until June 2020 to use standard QR codes for e-payments
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The Bangko Sentral ng Pilipinas (BSP) has required banks and other financial players to use uniform quick response (QR) code formats for e-payments by June next year.
In a statement, the central bank said it has approved a new rule adopting a national QR code standard that will ensure “interoperability” of payments made through this platform. This would ensure that a customer paying at the check-out counter in one store can expect the same process when settling dues in another.
