QR Pay definition

QR Pay refers to the service that allows cardholders to make payments to a merchant for goods and services using a two-dimensional quick response (QR) code generated by the merchant. This service is available on cardholder CIMB Pay application.
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QR Pay means the payment for goods/services by scanning the QR Code through the KTC Merchant Application on mobile devices that are linked to the internet or through printed media to the conditions set out by KTC, including any other services to be provided by KTC in the future.
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QR Pay or “QR PH” refers to an interoperable common Quick Response (QR) code which may be scanned and interpreted by any participating bank or other participating non-banking institutions to facilitate customers’ requests for fund transfers and payments. QR Pay is used for digital person-to-person (P2P) transfers, person-to-▇▇▇▇▇▇ (P2B), and person-to-merchant (P2M) payments, and are processed through the InstaPay system.
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Examples of QR Pay in a sentence

  • The Accountholder can also transfer funds to other banks or other participating non-banking institutions via InstaPay (including QR Pay) or PESONet.

  • For fund transfers via InstaPay (including QR Pay), there is a Php50,000 maximum fund transfer limit, per transaction.

  • The Accountholder/Cardholder shall be required to encode on the Facility a One-Time Password sent to the Accountholder/ Cardholder’s registered Philippine mobile or roaming number with SBA, for each fund transfer to a Third Party Sterling Bank Account/Card (except when the Third Party Sterling Bank Account/Card is designated by the Accountholder/Cardholder as a “Favorite”), or to other banks or non-banking institutions through InstaPay (including QR Pay) or PESONet.

  • The Accountholder can also transfer funds to merchants/stores which display the QR Ph code via QR Pay to pay his/her goods / services.

  • Customer/Merchant shall be responsible for all QR Pay transactions carried out through Customer’s/Merchant’s mobile device and Nouvobanq S.I.M.B.C. shall not be liable in any manner whatsoever for such transactions.

  • Customer/Merchant shall be responsible for all QR Pay transactions carried out through Customer’s/Merchant’s mobile device and Machhapuchchhre Bank shall not be liable in any manner whatsoever for such transactions.

  • Upon verification that the Merchant has generated the QR Code (Dynamic) at an Unauthorised Location, the Bank shall be entitled to terminate the CIMB QR Pay service and/or the Master Merchant Agreement.

  • The Accountholder/Cardholder can also transfer funds to other banks or other participating non-banking institutions via InstaPay (including QR Pay) or PESONet.

  • In the event of any loss or theft of their mobile device, Customer/Merchant shall notify the Bank by telephone immediately upon the discovery of such loss or theft to deactivate the use of QR Pay.

  • For fund transfers via InstaPay (including QR Pay), there is a Php50,000 maximum fund transfer limit per transaction.


More Definitions of QR Pay

QR Pay is used for digital person-to-person (P2P) transfers, person-to-▇▇▇▇▇▇ (P2B) and person-to-merchant (P2M) payments, and are processed through the InstaPay system.
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