QR Pay

How does QR Pay work?

QR Pay uses open source QR codes, and emerging mobile platforms to enable purchase anywhere capabilities. The user scans a QR barcode using the QR Pal application to complete a payment transaction.

Initially QR Pal with use PayPal for payment processing - however, soon the user will then be able to register a credit and debit cards to their profile. The user can then complete a payment transaction by scanning a barcode with QR Pay and following the prompts to enter or accept the amount to pay the merchant.

QR Pay Example Uses

• Person-to-person payments
• eCommerce Transactions
• Point

What makes QR Pay secure?

QR Pay is working towards becoming a PCI Compliant Level 1 Service Provider, which means that the company will have met the highest security standards set by the Payment Card Industry (PCI) regarding protection of personal information and secure transactions. For more information on these standards please visit the PCI website at www.pcisecuritystandards.org.

The QR Pay application also uses a process called credit card tokenization. Tokenization means replacing the real credit card number with a random string that is effectively useless to a person with malicious intent. When adding your credit card number into QR Pay it is stored encrypted in a digital vault and replaced with a token. Neither the credit card number nor token is stored on your phone. The token is used by the QR Pay servers to process future payment transactions. The merchant never sees the real credit card number (or the token), which helps ensure that your credit card information is never compromised via QR Pay. This process, tokenization, also reduces the risk of fraud in the event that your phone is lost or stolen because the sensitive data is not available from your device. To complete a payment transaction you must enter a specific item of data that you have previously provided and which is never saved anywhere on your phone. This means a thief would be unable to make any payments with your QR Pay account. However, in the unfortunate case that they do have both, your mobile device and QR Pay have pass codes that can be enabled so that they must be entered to unlock your phone and open the QR Pay application.