How do Quick Response (QR) Codes Work?

A QR code (Quick Response Code) is a two-dimensional, machine-readable label that contains information about the item to which it is attached.

When customers scan a QR code and enter the transaction amount, it is transferred directly from the bank account without the need of a swiping machine.

The system further eliminates the need for the merchant’s ID or number.

Source: Inshorts