EMVCo, the global technical body that manages specifications for contact and contactless EMV card transactions, has released specifications for QR (quick response) code-based mobile payments—both merchant-presented and consumer-presented models. QR codes are two-dimensional (2D) machine-readable barcodes used in mobile phones. They are capable of holding 100 times the information found on the one-dimensional barcodes printed on consumer packaged goods—enough data to initiate a payment on any network. American Express, Discover/Diners, JCB, Mastercard, UnionPay, and Visa, the six glob...