CBA develops QR code standards for new generation cash registers
By Mirsaid Ibrahimzade
The Central Bank of Azerbaijan (CBA) developed QR code standards for the implementation in the payment system infrastructure, Report informs on April 3.
These standards are developed in two categories. One of them is "Standard of QR code for individuals in Azerbaijan", and the second is "Standard of QR code for business entities in Azerbaijan".
So, QR code standards can be used by banks, national postal operators, payment service providers, processing centers, cash register operators, etc.
It should also be noted that EMV® QR Code which is widely used in international practice was applied within the framework of development standards for QR code.
Taking into account the recommendations, standards for individuals and business entities were prepared in the form of separate documents.
The QR code for individuals is displayed on the client’s mobile device, and the payment transaction must be initiated using the reader of the opposite-side QR code (individual or business entity).
QR code created for business entities should be displayed on the device of the specified subjects (cash register, mobile application, terminal, etc.) or on a special panel in a static form, and the payment transaction is initiated by reading the mobile code client device.
Speaking about cash registers of new generation, they have already been installed in several institutions, gas stations and shopping facilities. These devices work in real time, that is, as soon as the check gets through, these data appear in the base of the Ministry of Taxes.
These innovations are the part of are the improvement of tax administration, which primarily involves installing on virtually all commercial sites a new generation of cash registers operating in real time. Thus, the ability to somehow influence the cash indicators through various illegal operations such as unscrewing the cash register back will be reduced to zero.
Generally, QR code (abbreviated from Quick Response Code) is the trademark for a type of matrix barcode (or two-dimensional barcode) first designed in 1994 for the automotive industry in Japan. A barcode is a machine-readable optical label that contains information about the item to which it is attached.
QR code payment is a contactless payment method where a payment is performed by scanning a QR code from a mobile app. This is an alternative to doing electronic funds transfer at point of sale using a payment terminal. This avoids a lot of the infrastructure traditionally associated with electronic payments such as payment cards, payment networks, payment terminal and merchant accounts.
To use a QR code payment the consumers scans the QR code displayed by the merchant with their phones to pay for their goods. They enter the amount they have to pay and finally submit. This is a more secure card-not-present method than others.
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