In August 2017, the Payments Council, a group of leaders from banks, payment service providers, businesses, and trade associations, advocated the use of QR code-based payments as a practical and convenient way to introduce e-payments to merchants. However, it was noted the proliferation of more proprietary QR codes at merchants risked fragmentation of payment solutions and inefficiency among merchants and consumers. The Payments Council then formulated an industry taskforce to develop a common QR code specifications for e-payments known as Singapore Quick Response Code (SGQR), a unified QR code that combines multiple payment QR codes into a single label to […]