ING makes it possible to transfer money via QR code in the app

ING has added a feature to its banking app that allows users to pay or receive money using a QR code. Currently it only works within the ING app, but in theory other banks could also add support.

Payments via QR code are in fact nothing more than transfers from one account to another, but without the need to enter an Iban number. The party that wants to receive money creates a payment request in the app and enters an amount. A QR code appears on the screen and if the paying party scans this code with the ING app, the money is transferred after entering the mobile PIN.

ING says that the new function can be used by private individuals, who, for example, want to share the bill after a dinner with a group. The bank also sees applications for entrepreneurs, such as window cleaners or a hairdresser at home. They can let customers make a payment on the spot.

According to ING, the QR code used is sepa-compatible and other banks can therefore make their apps suitable for reading the QR codes.