This paper is an addendum to the interim report, “Cashless Society- Benefits Risks and Issues”, published by the Cashless Society Working Party, in December 2017. In the process of researching into the various aspects of a cashless society, Quick Response codes (QR codes) featured as a popular and widely adopted technology as part of the digital economy and payment system.
This paper seeks to understand the phenomenal rise of QR codes use by:
- explaining the historical development of QR codes;
- exploring the reasons why QR codes have become popular;
- highlighting QR codes in a cashless society, particularly in payment systems;
- considering issues related to the use of QR codes in payment systems.