NFC TIMES Exclusive – Visa, which last summer announced it would introduce QR code-based payments to Taiwan by the end of this year, has recently briefed Taiwanese bankers on the planned architecture, use cases and some other details of the technology, NFC Times has learned.
Visa, which calls the QR code technology “Mobile Push Payments,” continues to support NFC-based payments in Taiwan with Visa payWave, as well as online payments with Visa Checkout, but it sees QR code-based payments as an alternative at both brick-and-mortar stores and online in Taiwan and other markets. In Taiwan, use of wallets supporting QR codes is growing, despite the fact that all three NFC-enabled global Pays wallets are in operation, including Apple Pay. Visa, like other major card networks, is supporting QR code-based payments to avoid losing transactions to third-party payments players, including giants Ant Financial Services and Tencent Holdings of China. They also see an opportunity to sign up new merchants that don't have POS terminals.