Mastercard unveiled its Merchant Presented QR payment solution in Sri Lanka, a safe and secure Quick Response (QR) based mobile payments solution. The solution enables shoppers to safely pay using a mobile application with a standardized QR code support to scan the merchant-presented QR code, which works on smartphones. Mastercard QR can easily be integrated into existing mobile payment solutions offered by financial service providers and works with existing Mastercard cards as well.
“Mastercard is excited to bring Mastercard QR to Sri Lanka, one of its key focus markets in South Asia. Continuing to support the country’s ongoing efforts to encourage adoption of cashless payments, Mastercard seeks to simplify access to digital payments for businesses and consumers through this fast, secure, convenient and cost-effective solution,” said
Country Manager, Sri Lanka and Maldives, Mastercard R. B. Santosh Kumar.
Mastercard QR enables merchants to accept Mastercard payments using a simple EMV Co standard QR code that merchants can display at their Point of Sale (POS) without the need for any physical equipment. They can also use a dynamic EMV Co QR code generated on the merchant’s mobile device..