NACHA Helps to Standardize Mobile BillPay Technologies

by Mercator Advisory Group 0

As QR codes become increasingly popular means of facilitating payments, NACHA and their Council for Electronic Billing and Payment have developed a set of guidelines designed to standardize QR codes for bill pay purposes.

Standards-making bodies around the industry are making progress in fostering cooperation among industry participants as a means of moving mobile-based payment and services initiatives forward as well as addressing emerging technologies like chip-based cards. Organizations interested in working through testing the new formats discussed in this article can sign up to participate now through NACHA.

From NACHA’s press release:

The goal of the guidelines is to establish a single QR code format that can be printed on a paper bill and scanned by the consumer’s mobile phone using a biller, mobile banking or generic QR code reader. In this way, billers and service providers can enable QR encoding in a standardized format, providing certainty for biller and banking clients, and ensuring a consistent experience for consumers.

Click here to read more from NACHA’s press release.

Featured Content