New In-store Payment Option to Offer Retailers Cheaper Digital Solution [Video]

An important new feature is coming to life in Hungarian mobile banks: from September 1, all bank customers will be able to pay with a QR code. The new payment solution, branded qvik, will be free of charge for customers and can be used for online payments and at cash registers in shops. It will not bring new convenience compared to the card, but could be a cheaper digital payment solution for retailers, Portfolio writes.

From September 1, a new feature will be introduced to Hungarian bank customers: they will be able to initiate a payment by scanning a QR code, free of charge. In addition, two other technologies (NFC and deeplink) can be used to create payment solutions, but the QR code is expected to bring the biggest changes. At first sight, it is unlikely that shops will be flooded with QR codes, but

it is expected that there will be …